Doug McMillon

Last updated

Doug McMillon
Doug McMillon Headshot 2019.jpg
Born
Carl Douglas McMillon

(1966-10-17) October 17, 1966 (age 58)
Memphis, Tennessee, U.S.
Education University of Arkansas, Fayetteville (BS)
University of Tulsa (MBA)
Occupation(s)President and CEO of Walmart
SpouseShelley McMillon
Children2
Website Official website OOjs UI icon edit-ltr-progressive.svg

Carl Douglas McMillon (born October 17, 1966 [1] ) is an American businessman, and the president and chief executive officer (CEO) of Walmart Inc. [2] He sits on the retailer's board of directors. Having first joined the company as a summer associate in high school, he became the company's fifth CEO in 2014. He previously led the company's Sam's Club division, from 2005 to 2009, and Walmart International, from 2009 to 2013.

Contents

Early life

McMillon was born in Memphis, Tennessee, [3] and grew up in Jonesboro, Arkansas, [4] the eldest of three children born to Laura and Morris McMillon, a dentist who served in Vietnam. [5] His parents moved the family to Bentonville, Arkansas, the home of Walmart headquarters, when McMillon was 16. [5] A sports enthusiast, McMillon played point guard on the Bentonville High School basketball team. [5]

Career

McMillon has worked for Walmart throughout his career. [6] He took on his first role with the company as a teenager in 1984. [5] [6] He later became a buyer, then moved into management roles before becoming CEO in 2014. [4] [6]

Early career

When he was a teenager, McMillon began his first job with Walmart as a summer associate. He worked during the summer [5] unloading trucks in a distribution center. After high school, McMillon attended University of Arkansas, where he graduated with a bachelor's degree in 1989. [7]

The next year, as McMillon studied for a Master of Business Administration (MBA) from University of Tulsa, he called Walmart and told an executive he was interested in training to become a buyer when he completed his studies. [5] Soon thereafter, McMillon rejoined Walmart as an assistant manager at a Tulsa, Oklahoma, store. [5] After completing his MBA in 1991, [7] McMillon moved to Walmart's Bentonville headquarters to join the buyer-training program. [8] [9] Originally in charge of buying fishing tackle, [5] he later took on various roles as a buyer and a merchandiser, dealing in food, clothes, crafts and furnishings. [10] He later worked as a general merchandise manager for Walmart's wholesale store division Sam's Club before taking an executive role at Walmart, overseeing toys, electronics, and sporting goods, among other areas. [10]

Sam's Club (2005–2009)

Walmart promoted McMillon to president and CEO of Sam's Club on August 4, 2005. [8] [11] Under McMillon, the wholesaler emphasized marketing to small business customers. [4] Additionally, McMillon incorporated what The Wall Street Journal called "treasure hunt" items that are limited-selection expensive premium items, such as diamond necklaces and wine vacations, for sale next to cheap bulk goods in an attempt to compete with Costco. [4]

Walmart International (2009–2013)

Walmart officials moved McMillon from his role at Sam's Club to lead Walmart's international division in February 2009, [12] replacing Mike Duke, who was promoted to CEO of Walmart Stores, Inc. [10] Under McMillon, Walmart International focused on improving in existing markets, such as Canada, China, United Kingdom and the Americas. [13] One area of particular importance to McMillon was integrating Walmart's "everyday low prices" model to these international markets. [13] Under McMillon, the international division acquired a majority stake in South Africa's Massmart Holdings Ltd. for US$2.4 billion. [5] [14]

During McMillon's tenure, Walmart International's sales growth outpaced Walmart US [15] and grew to 29 percent of total sales company-wide. [10] When McMillon first became head of the division, it comprised more than 3,300 stores in 14 countries. [16] When Walmart announced it would move him to head Walmart Stores, Inc. in late 2013, Walmart International operated 6,300 stores in 26 countries. [17] [ failed verification ]

CEO of Walmart, Inc. (2014–present)

McMillon speaks from the White House Rose Garden on the COVID-19 pandemic in April 2020 White House Coronavirus Update Briefing (49829958492).jpg
McMillon speaks from the White House Rose Garden on the COVID-19 pandemic in April 2020

Walmart announced on November 25, 2013, that McMillon would immediately join the company's board of directors, [18] and would replace Mike Duke as Walmart CEO effective on February 1, 2014, becoming the company's fifth chief executive. [5]

McMillon took over the company at a time of slowing growth and increased competition from rivals, such as Costco, Amazon.com, grocery store chains Kroger and Safeway, and discount chains of small stores like Family Dollar and Dollar General. [5] Within his first two years as chief executive, McMillon raised wages for hourly workers in the US, boosted the company's commitment to e-commerce and revamped Walmart's executive team. While increased spending on labor and Walmart's digital offerings lowered short-term profits, McMillon argued that the moves would lead to happier workers and better customer service, [19] as well as a better footing in a changing retail market. [20]

In February 2015, McMillon announced Walmart would invest an additional US$2.7 billion in higher associate wages, benefits and training, including raising its lowest wage to US$9 an hour in 2015 and US$10 an hour for 2016. [21] [22] The action affected 40 percent of the company's 1.4 million US workers. [23] In January 2016, McMillon announced raises for the majority of its workers, free basic short-term disability for full-time workers and a revised paid time off program. [19]

McMillon made it a long-term goal of Walmart to increase investments in e-commerce, stressing a need to create a "seamless shopping experience". [24] As such he announced in 2015 that Walmart would invest US$1 billion on its online operations. [25] Another goal is to improve the company's environmental sustainability and eliminate waste across the company. [26] In 2014, Walmart began rolling out an initiative to replace lighting in its stores in the US, UK, Latin America and Asia with LED lights for energy efficiency. [27] At the Davos World Economic Forum in January 2016, McMillon said Walmart would press three of its main goals: supply the company with renewable energy, eliminate waste and promote sustainably packaged goods. [28]

As CEO, McMillon sought to make a "positive difference" in other issues. [26] On March 31, 2015, McMillon issued a statement urging Arkansas Gov. Asa Hutchinson to veto the state's "religious freedom" bill. [29] McMillon said the bill "threatens to undermine the spirit of inclusion present throughout the state of Arkansas and does not reflect the values we proudly uphold". [29]

In June 2015, McMillon said the company would stop selling Confederate flag merchandise [22] following the shooting of nine black churchgoers in Charleston, South Carolina. [30] McMillon altered Walmart's gun sales. He told CNNMoney in an interview that Walmart's selection of firearms should be geared towards hunters and sports shooters. [31] In August 2015, the company ceased sales of military-style semiautomatic weapons. [31]

Forbes named McMillon to its World's Most Powerful People list in 2014, 2015 and 2016 where he ranked No. 29, No. 32, No. 27 respectively. [32] ExecRank ranked McMillon No. 4 on its 2015 list of top CEOs for large companies. [33]

In December 2016, McMillon joined a business forum assembled by then president-elect Donald Trump to provide strategic and policy advice on economic issues. [34] In August 2017, McMillon wrote a rebuke of President Trump's response to the violent protests Charlottesville, Virginia in an email to all employees and on the internal company website that is viewable by the public. The statement said the President, "missed a critical opportunity to help bring our country together". A company spokesman said McMillon would continue to serve on a presidential advisory council on economic development. [35]

In September 2019, McMillon announced that the company would no longer sell ammunition used for handguns and military-style weapons. This policy update came as a result of the mass shooting which took place at a Walmart in El Paso, Texas in August 2019. McMillon's actions to create a dialogue and take actions around the issue, set a new precedent for how corporations and their leaders address these matters. [36]

In 2023, McMillon's total compensation from Walmart was $27 million, or 976 times the median employee pay at Walmart for that year. [37]

Personal life

McMillon lives with his wife, Shelley, in Bentonville, Arkansas. [20] They have two sons. [7] Doug McMillon is a born-again Christian. [38]

Related Research Articles

<span class="mw-page-title-main">Walmart</span> American multinational retail corporation operating department stores

Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores in the United States and 23 other countries. It is headquartered in Bentonville, Arkansas. The company was founded by brothers Sam and James "Bud" Walton in nearby Rogers, Arkansas in 1962 and incorporated under Delaware General Corporation Law on October 31, 1969. It also owns and operates Sam's Club retail warehouses.

<span class="mw-page-title-main">Bentonville, Arkansas</span> City in Arkansas, United States

Bentonville is the ninth-most populous city in the US state of Arkansas, and the county seat of Benton County. The city is centrally located in the county with Rogers adjacent to the east. The city is the birthplace and headquarters of Walmart, the world's largest retailer. It is one of the four main cities in the three-county Northwest Arkansas Metropolitan Statistical Area, which is ranked 105th in terms of population in the United States with 546,725 residents in 2020, according to the United States Census Bureau. The city itself had a population of 54,164 at the 2020 Census, an increase of 53% from the 2010 Census. Bentonville is considered to be one of the fastest growing cities in the state and consistently ranks amongst the safest cities in Arkansas.

<span class="mw-page-title-main">Sam Walton</span> American business magnate (1918–1992)

Samuel Moore Walton was an American business magnate best known for founding the retailers Walmart and Sam's Club, which he started in Rogers, Arkansas and Midwest City, Oklahoma in 1962 and 1983 respectively. Wal-Mart Stores Inc. grew to be the world's largest corporation by revenue as well as the biggest private employer in the world. For a period of time, Walton was the richest person in the United States. His family has remained the richest family in the U.S. for several consecutive years, with a net worth of around US$240.6 billion as of January 2022. In 1992 at the age of 74, Walton died of blood cancer and was laid to rest at the Bentonville Cemetery in his longtime home of Bentonville, Arkansas.

<span class="mw-page-title-main">Sam's Club</span> American membership-only warehouse club chain

Sam's West, Inc. is an American chain of membership-only warehouse club retail stores owned and operated by Walmart Inc., founded in 1983 and named after Walmart founder Sam Walton as Sam's Wholesale Club. As of January 31, 2019, Sam's Club ranks second in sales volume among warehouse clubs with $84.3 billion in sales, behind its main rival Costco Wholesale.

<span class="mw-page-title-main">Alice Walton</span> American heiress to the fortune of Wal-Mart Stores, Inc.

Alice Louise Walton is an American heiress to the fortune of Walmart as daughter of founder Sam Walton. In September 2016, she owned over $11 billion in Walmart shares. As of November 2023, Walton has a net worth of $71 billion, making her the 17th richest person and the second-richest woman in the world according to Bloomberg Billionaires Index, after Françoise Bettencourt Meyers.

<span class="mw-page-title-main">Jim Walton</span> American businessman

James Carr Walton is an American businessman, currently an heir to the fortune of Walmart, the world's largest retailer. As of August 2024, Walton was the 15th-richest person in the world, with a net worth of US$92.5 billion according to Forbes. He is the youngest son of Sam Walton.

<span class="mw-page-title-main">Mike Duke</span> Ex-CEO of Walmart

Michael Terry Duke is an American businessman. He served as the fourth chief executive officer of Walmart from 2009 to 2013.

<span class="mw-page-title-main">Criticism of Walmart</span> Criticism against large retailer based in the United States

The American multinational retail chain Walmart has received criticism from parties such as labor unions and small town advocates for its policies and business practices.

<span class="mw-page-title-main">David Glass (businessman)</span> American businessman (1935–2020)

David Dayne Glass was an American businessman. He was president and chief executive officer of Walmart Stores, Inc. He was also an owner and chief executive officer of the Kansas City Royals.

<span class="mw-page-title-main">Bentonville High School</span> Public school in Bentonville, Arkansas, United States

Bentonville High School (BHS) is a public high school in Bentonville, Arkansas, United States. Founded in 1910, the school provides education for students in grades nine through twelve. It is one of two high schools of the Bentonville School District.

<span class="mw-page-title-main">B. Kevin Turner</span> American businessman and investor (born 1965)

B. Kevin Turner is an American businessman and investor who is the chairman of Zayo Group and the vice chairman of Albertsons/Safeway Inc.

Thomas Martin Coughlin was an American businessman who served as vice chairman of Wal-Mart Stores, Inc. and confidant of founder Sam Walton.

Walmarting or Walmartization is a neologism referring to U.S. discount department store Walmart with three meanings. The first use is similar to the concept of globalization and is used pejoratively by critics and neutrally by businesses seeking to emulate Walmart's success. The second, pejorative, use refers to the homogenization of the retail sector because of those practices. The third, neutral, use refers to the act of actually shopping at Walmart.

Walmart Canada is a Canadian retail corporation, discount retailer and the Canadian subsidiary of the U.S.-based multinational retail conglomerate Walmart. Headquartered in Mississauga, Ontario, it was founded on March 17, 1994, with the purchase of the Woolco Canada chain from the F. W. Woolworth Company.

<span class="mw-page-title-main">History of Walmart</span>

The history of Walmart, an American discount department store chain, began in 1950 when businessman Sam Walton purchased a store from Luther E. Harrison in Oklahoma City, Oklahoma, and opened Walton's 5 & 10. The Walmart chain proper was founded in 1962 with a single store in Rogers, Arkansas, expanding inside Oklahoma by 1968 and throughout the rest of the Southern United States by the 1980s, ultimately operating a store in every state of the United States, plus its first stores in Canada, by 1995. The expansion was largely fueled by new store construction, although the chains Mohr-Value and Kuhn's Big K were also acquired.

<span class="mw-page-title-main">Sam M. Walton College of Business</span> Business school of the University of Arkansas

The Sam M. Walton College of Business is the business school at the University of Arkansas, a public research university in Fayetteville, Arkansas. Created in 1926, the college is the second-largest college at the University of Arkansas, serving over 9,000 students. Walton College offers undergraduate, master's, and doctoral programs and is known nationally for its strong programs in retail, entrepreneurship, information systems, and supply chain management. U.S. News & World Report consistently ranks Walton College among the top business schools in the country. The college has a close relationship with Walmart Stores, Inc., based in nearby Bentonville, Arkansas, and related vendor community.

David Cheesewright is the British former president and CEO of Walmart International, a division of Wal-Mart Stores, Inc..

Steuart Walton is an American attorney and businessman. Born into the billionaire Walton family, he is a director of Walmart, the world's largest company by revenue, co-founder of private equity firm RZC Investments, which bought British cycling brand Rapha in 2017, and founder of Game Composites, a composite aircraft manufacturer.

<span class="mw-page-title-main">Don Soderquist</span>

Donald G. Soderquist was an American businessman known for his work as chief operating officer and senior vice chairman of Wal-Mart Stores Inc.

References

  1. ↑ "The CNBC Next List: Doug McMillon". CNBC. October 6, 2014.
  2. ↑ "Walmart Executive Management" . Retrieved February 3, 2021.
  3. ↑ "Wal-Mart CEO bio box". Associated Press. February 17, 2016. Retrieved February 17, 2016– via The Gazette.
  4. 1 2 3 4 Banjo, Shelly (November 25, 2013). "Wal-Mart taps veteran as new CEO". The Wall Street Journal . Retrieved January 22, 2016.
  5. 1 2 3 4 5 6 7 8 9 10 11 O'Keefe, Brian (June 4, 2015). "The man who's reinventing Walmart". Fortune . Retrieved January 22, 2016.
  6. 1 2 3 Barr, Alistair; McCoy, Kevin (November 26, 2013). "New Wal-Mart CEO compares retail success to basketball". USA Today . Retrieved January 22, 2016.
  7. 1 2 3 "Doug McMillon's competitive spirit works well at Walmart". USA Today . April 18, 2010. Retrieved January 22, 2016.
  8. 1 2 "Microsoft names former Sam's Club exec as new COO". Associated Press. August 4, 2005. Retrieved January 22, 2016. McMillon joined Wal-Mart full time in early 1991 as a buyer trainee in sporting goods.
  9. ↑ Jopson, Barney (November 25, 2013). "Doug McMillon's rise from the shop floor to the chief's chair". Financial Times . Retrieved January 22, 2016. Six years later, in 1990, while studying for his MBA at the University of Tulsa, he rejoined Walmart at a store in Oklahoma, before moving to the head office in Bentonville, Arkansas, the following year.
  10. 1 2 3 4 Nisen, Max (November 27, 2013). "How Doug McMillon went to unloading trucks at Wal-Mart to its next CEO". Business Insider . Retrieved January 22, 2016.
  11. ↑ Citrano, Virginia (August 5, 2005). "Microsoft names Wal-Mart exec as COO". Forbes . Retrieved January 22, 2016.
  12. ↑ Jopson, Barney (November 25, 2013). "Doug McMillon's rise from the shop floor to the chief's chair". Financial Times . Retrieved January 22, 2016. In February 2009, Mr McMillon took over as president and chief executive of Walmart International, which has more than 6,300 stores and 823,000 staff in countries outside the US.(subscription required)
  13. 1 2 Wohl, Jessica; Martell, Allison (April 12, 2012). "Walmart International focusing on existing markets". Reuters . Retrieved January 22, 2016.
  14. ↑ Maylie, Devon (March 9, 2012). "Wal-Mart, Massmart merger approved in South Africa". The Wall Street Journal . Retrieved January 22, 2016.
  15. ↑ Rubin, Ben Fox (November 25, 2013). "Who is new Wal-Mart CEO Doug McMillon?". The Wall Street Journal . Retrieved January 22, 2016.
  16. ↑ Painter, Steve (January 8, 2009). "McMillon to lead retailer's global arm". Arkansas Democrat-Gazette . Retrieved January 22, 2016. The international division is Wal-Mart's second-largest and fastest-growing business segment that includes more than 3,300 stores in 14 nations
  17. ↑ Rudarakanchana, Nat (November 25, 2013). "Wal-Mart (WMT) names head of company's international operations as CEO: What you need to know". International Business Times . Retrieved January 22, 2016.
  18. ↑ Dudley, Renee; Townsend, Matt (November 25, 2013). "Wal-Mart names Doug McMillon CEO to succeed Mike Duke" . Forbes . Retrieved January 22, 2016.
  19. 1 2 D'Innocenzio, Anne (January 20, 2016). "Wal-Mart says most workers till get raises". The Kansas City Star . Retrieved January 22, 2016.
  20. 1 2 Creswell, Julie; Tabuchi, Hiroko (October 18, 2015). "Walmart chief defends investments in labor, stores and the Web". The New York Times . Retrieved January 22, 2016.
  21. ↑ Kell, John (January 20, 2016). "More Than a Million Walmart Employees Are Getting a Massive Pay Raise". Fortune . Retrieved February 16, 2016.
  22. 1 2 "Why Wal-Mart's CEO is speaking out on social issues". Crain's Chicago Business . June 23, 2015. Retrieved January 22, 2016.
  23. ↑ D'Innocenzio (February 26, 2015). "Wal-Mart CEO Doug McMillon talks workers, customers, critics". The Columbus Dispatch . Retrieved January 22, 2016.
  24. ↑ "10 things you need to know today". Business Insider . November 17, 2015. Retrieved January 22, 2016.
  25. ↑ Tabuchi, Hiroko (June 5, 2015). "Walmart, lagging in online sales, is strengthening e-commerce". The New York Times . Retrieved January 22, 2016.
  26. 1 2 Dudley, Renee (June 23, 2015). "Wal-Mart CEO sees chance to make difference on social issues". Bloomberg Business . Retrieved January 22, 2016.
  27. ↑ Wright, Maury (April 9, 2014). "Walmart plans major LED transition in supercenter lighting globally". LEDs Magazine. Retrieved February 16, 2016.
  28. ↑ Ellyatt, Holly (January 20, 2016). "Businesses can go green without going under". CNBC. Retrieved February 16, 2016.
  29. 1 2 McGregor, Jena (April 1, 2015). "Wal-Mart CEO speaks out against 'religious freedom' bill in Arkansas". The Washington Post . Retrieved January 22, 2016.
  30. ↑ Alesci, Cristina; Isidore, Chris (June 23, 2015). "Walmart CEO: I was surprised we sold Confederate flags". CNN . Retrieved January 22, 2016.
  31. 1 2 Smith, Aaron; Alesci, Cristina (August 26, 2015). "Walmart to stop selling AR-15s and similar guns". CNN . Retrieved January 22, 2016.
  32. ↑ "The world's most powerful people". Forbes . 2016. Retrieved March 4, 2017.
  33. ↑ Johnsen, Michael (December 17, 2015). "Rite Aid's John Standley names No. 1 mip-cap CEO". Drug Store News. Retrieved January 22, 2016.
  34. ↑ Bryan, Bob (December 2, 2016). "Trump is forming an economic advisory team with the CEOs of Disney, General Motors, JPMorgan, and more". Business Insider. Retrieved June 1, 2017.
  35. ↑ Abrams, Rachel; Corkery, Michael (August 15, 2017). "Walmart's C.E.O. Joins Group to Rebuke Trump Over Charlottesville". The New York Times . Retrieved August 15, 2017.
  36. ↑ Sorkin, Andrew Ross (September 3, 2019). "Walmart's C.E.O. Steps Into the Gun Debate. Other C.E.O.s Should Follow". The New York Times. ISSN   0362-4331 . Retrieved September 6, 2019.
  37. ↑ Anderson, Sarah (August 29, 2024). "Executive Excess 2024: The "Low Wage 100" corporations are enriching CEOs at the expense of workers and long-term investment" (PDF). Institute for Policy Studies . Archived (PDF) from the original on August 29, 2024. Retrieved August 31, 2024.
  38. ↑ Doug McMillon - Are You Setting the Right Example at 0:47-0.58 in the video.
Business positions
Preceded by President of Walmart
2013–present		Incumbent
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.