McMillon Relays Leadership Lessons To Forty Under 40 Class
by August 20, 2013 2:59 pm 94 views
Wal-Mart Stores Inc. executive Doug McMillon told members of the Northwest Arkansas Business Journal’s 2013 Forty Under 40 class to think about their leadership behavior during his remarks at the annual event.
McMillon, president and CEO of Walmart International, spoke Tuesday during the luncheon portion of the 17th annual Forty Under 40 event, sponsored by InTrust Bank.
The program took place at the Embassy Suites in Rogers, before a crowd of about 475 that included Arkansas GOP gubernatorial candidate Asa Hutchinson and University of Arkansas athletics director Jeff Long.
“Think about your own leadership behavior,” McMillon said after relaying four personal anecdotes of leadership lessons. “If it continues to improve, there is no limit to what you can accomplish.”
McMillon and former Wal-Mart COO Don Soderquist also met privately with this year’s honorees for about 45 minutes prior to the luncheon.
“I think Northwest Arkansas is in good hands,” McMillon said afterward.
McMillon urged honorees to take ownership in their job.
“As a buyer,” he explained, “I was once told, ‘From this point forward, if it’s broke, it’s your fault. Fix it.’ Don’t place blame somewhere else.”
McMillon also stressed details matter.
“It makes the difference between good business and great business,” he said.
Admitting mistakes is also the mark of a good leader, McMillon noted, as is being approachable.
“Bad news travels fast in a business,” he remarked. “When somebody comes to see me with bad news to share, that needs to be OK. Make it OK for someone to tell you the truth.”
McMillon, the CEO of Sam’s Club from 2006-2009, oversees the operation of more than 6,100 stores 26 countries outside the United States. He 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.