BENTONVILLE, Ark. – Wal-Mart Stores CEO and President Mike Duke is stepping down from those posts. The world’s biggest retailer named Doug McMillon as his successor. The 63-year-old Duke will stay on as chairman.
The 47-year-old McMillon’s appointments are effective Feb. 1, 2014. He previously served as CEO of Walmart International.
The announcement came just days before the kickoff of the holiday shopping season.
McMillon will also join Wal-Mart’s board. That appointment is effective immediately.