Walmart Names Next CEO

Walmart, the largest private employer in the U.S. with nearly 2.2 million employees, has announced its next CEO. Doug McMillon, 47, and president and CEO of Walmart International, will replace current CEO Mike Duke on February 1. McMillon first joined Walmart in 1984 as a summer associate in a distribution center, and most of his 22 years at the company have been focused on merchandising. Duke has served as CEO since 2009, and his retirement comes as the company and the industry as a whole face serious challenges.