Walmart CEO Likely To Stay In The Role For At least Three Years: Report

  • Walmart Inc WMT Chief Executive Officer Doug McMillon reportedly plans to stay in the position for at least three more years, while a search for the successor goes on.
  • His plans to stay in the role for more than a decade will extend the company’s timeline for finding its next leader, the WSJ reported.
  • The company, in recent years, has raised many of its executives to the roles, making them likely successors to McMillon.
  • McMillon received $25.7 million in compensation for the fiscal year ended January 2022.
  • The company reported fourth-quarter FY23 sales growth of 7.3% year-on-year to $164 billion.
  • The Walton family holds about 47% of the stock, making them Walmart’s biggest shareholder, with three board seats.
  • Price Action: WMT shares are trading lower by 0.06% at $140.41 in premarket on the last check Friday.
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