It is learnt that the board of Wal-Mart Stores Inc. has identified two internal candidates to succeed incumbent CEO Mike Duke. The contenders as per a reports by Bloomberg News, are Bill Simon and Doug McMillon. Though Duke isn’t expected to step down immediately, it is understood that Wal-Mart may name his successor soon.
Duke as well as the previous CEO’s have all been insiders and it is expected that the new CEO to take over from Duke is also an insider who has been with the company.
Bill is presently designated as President & CEO, Walmart U.S. Walmart U.S had revenues of $274.5 billion in Fiscal Year 2013. Bill has been responsible of leading the business, providing strategic direction to the business that comprise of 1.3 million associates and 4,000 stores. He has been with the company since 2006. Earlier on he has worked with Brinker International, Diageo Southeast, North America Ready to Drink, Cadbury-Schweppes, PepsiCo and RJR-Nabisco. He has also served in the U. S Navy.
Doug McMillon is presently holding the position of President and Chief Executive Officer of Walmart International, a fast-growing segment of Walmart’s overall operations, with more than 6,100 stores and more than 823,000 associates in 26 countries outside the United States. From 2006 to February 2009, Doug served as president and chief executive officer of Sam’s Club, an operating segment of Walmart, with sales of more than $46 billion during his tenure. Doug had started his career with the company in 1984, as a summer associate in a Walmart Distribution Center. Subsequently he re-joined the company in 1990, while pursuing his MBA. He has spent most of his career in merchandising in the Walmart U.S. division across categories – food, apparel and general merchandise. He has also held various merchandising positions at Sam’s Club and Walmart International in addition to holding leadership roles in all three operating segments of the company.