Doug McMillon

For the former Scottish–American soccer forward, see Doug McMillan.
Doug McMillon
Born Carl Douglas McMillon
(1966-10-17) October 17, 1966
Memphis, Tennessee[1]
Residence Bentonville, Arkansas, U.S.
Nationality American
Alma mater
Occupation President and CEO, Walmart
Salary US$19.4 million (2015 total compensation)[2]
Spouse(s) Shelley McMillon
Children 2
Parent(s) Morris and Laura McMillon
Website Official website

Doug McMillon (born Carl Douglas McMillon October 17, 1966) is an American businessman and is the president and chief executive officer (CEO) of Wal-Mart Stores, Inc. 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.

Early life

McMillon was born in Memphis, Tennessee,[1] and grew up in Jonesboro, Arkansas.[3] He was the oldest of three children born to Laura and Morris McMillon, a dentist who served in Vietnam.[4] His parents moved the family to Bentonville, Arkansas, the home of Walmart headquarters, when McMillon was 16.[4] A sports enthusiast, McMillon played point guard on the Bentonville high school basketball team.[4]

Career

McMillon has worked for Walmart throughout his career.[5] He took on his first role with the company as a teenager in 1984.[4][5] He later became a buyer, then moved into management roles before becoming CEO in 2014.[3][5]

Early career

When he was a teenager, McMillon began his first job with Walmart as a summer associate. He worked during the summer[4] unloading trucks in a distribution center.[6] 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.[4] Soon thereafter, McMillon rejoined Walmart as an assistant manager at a Tulsa, Oklahoma, store.[4] 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,[4] 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.[3] Additionally, McMillon incorporated what The Wall Street Journal called "treasure hunt" items, premium items including diamond necklaces and wine vacations, in an attempt to compete with Costco Wholesale Corp.[3]

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 Wal-Mart 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] Also under McMillon, the international division acquired a majority stake in South Africa's Massmart Holdings Ltd. for US$2.4 billion.[4][14]

During McMillon's tenure, Walmart International's sales growth outpaced Walmart U.S.[15] and grew to 29 percent of total sales companywide.[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 Wal-Mart Stores, Inc. in late 2013, Walmart International operated 6,300 stores in 26 countries.[17]

CEO of Wal-Mart Stores, Inc. (2014–present)

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 on February 1, 2014, becoming the company's fifth-ever chief executive.[4]

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.[4] Within his first two years as chief executive, McMillon raised wages for hourly workers in the U.S., 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 stated 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 U.S. 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 of McMillon's 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 U.S., 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 also 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 and 2015, where he ranked No. 29 and No. 32, respectively.[32] ExecRank ranked McMillon No. 4 on its 2015 list of top CEOs for large companies.[33]

Other roles

In addition to Walmart's board of directors, McMillon serves on several boards, including the U.S. China Business Council,[34] Consumer Goods Forum[35] and Crystal Bridges Museum of American Art.[36] He also sits on the Dean’s Advisory Board for the Sam M. Walton College of Business at the University of Arkansas.[37]

Personal life

McMillon lives with his wife, Shelley, in Bentonville, Arkansas.[20] They have two sons.[7]

References

  1. 1 2 "Wal-Mart CEO bio box". Associated Press. February 17, 2016. Retrieved February 17, 2016 – via [[The Gazette (Colorado Springs)|]].
  2. ↑ "Notice of 2015 Annual Shareholders’ Meeting and Proxy Statement" (PDF). Walmart. 2015. Retrieved January 22, 2016.
  3. 1 2 3 4 Banjo, Shelly (November 25, 2013). "Wal-Mart taps veteran as new CEO". The Wall Street Journal. Retrieved January 22, 2016.
  4. 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.
  5. 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.
  6. ↑ Painter, Steve (January 8, 2009). "McMillon to lead retailer's global arm". Arkansas Democrat-Gazette. Retrieved January 22, 2016. Since joining the company 18 years ago, he has worked his way up through Wal-Mart ranks from his first job unloading trucks at a distribution center.
  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.
  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. ↑ Ro, Sam (November 17, 2015). "10 things you need to know today". Business Insider. 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. 2015. Retrieved January 22, 2016.
  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. ↑ Priddle, Alisa (June 4, 2015). "Ford CEO Fields to chair US-China Business Council". Detroit Free Press. Retrieved January 22, 2016.
  35. ↑ "Doug McMillon". Consumer Goods Forum. Retrieved January 22, 2016.
  36. ↑ Vogel, Carol (June 16, 2011). "A Billionaire’s Eye for Art Shapes Her Singular Museum". The New York Times. Retrieved January 22, 2016.
  37. ↑ "Dean's Executive Advisory Board". University of Arkansas. Retrieved January 22, 2016.

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