McMillon to Speak at Forty Under 40 Event
by May 31, 2013 9:57 am 116 views
One of the top names mentioned as the next CEO of Wal-Mart Stores Inc. will be the featured speaker at the Northwest Arkansas Business Journal‘s 17th annual Forty Under 40 event.
Doug McMillon, president and CEO of Walmart International, will give the keynote speech and also meet privately with this year’s honorees.
The program is scheduled for Aug. 20 at the Embassy Suites in Rogers. InTrust Bank is the sponsor.
The Business Journal annually honors 40 individuals under the age of 40 who were nominated as best in class by their peers in all industries.
Analysts have mentioned McMillon prominently as a possible successor to Mike Duke, who is only the fourth CEO in the company’s history.
Bloomberg Businessweek reported in early May on speculation involving Duke, rumored to be stepping down in the coming months. The report cited McMillon as a leading contender to become CEO.
It would not be an unfamiliar path for McMillon, who was tapped to take over Duke’s role as president of the international division in 2009 when Duke was promoted to CEO.
McMillon, the CEO of Sam’s Club from 2006-2009, began his Wal-Mart career as an hourly worker at a distribution center in Northwest Arkansas while he paid his way through school at the University of Arkansas.
A Jonesboro native, he became a buyer trainee while in graduate school in 1990, and eventually worked in all three Wal-Mart divisions of food, apparel and general merchandise.
The international division has been the retailer’s fastest-growing segment for years. In his letter to shareholders at the company’s annual meeting in Fayetteville last year, Duke called Walmart International “the company’s primary growth engine.”
“With $125 billion in sales,” he wrote, “it is remarkable that our international business alone would now be among the three largest retailers in the world.”
McMillon oversees the operation of more than 6,100 stores and 823,000 associates in 26 countries outside the United States.
Corporate tables and advance tickets for the Forty Under 40 event are available by calling 479-725-0394, or by visiting www.nwabusinessjournal.com.