The Wal-Mart Stores, Inc. board of directors elected Doug McMilon to succeed Mike Duke as the company Chief Executive Officer. Mr. Duke was immediately placed on the board of directors and will help with the transition. Mr. McMilon will become CEO effective February 1. He will be advised for one year by Mr. Duke who plans to retire after the year is completed.
References
Wal-Mart Stores, Inc. (2013, November 25). Doug McMillon Elected New Chief Executive Officer of Wal-Mart Stores, Inc. Retrieved November 25, 2013, from http://news.walmart.com/news-archive/2013/11/25/doug-mcmillon-elected-new-chief-executive-officer-of-wal-mart-stores-inc