Walmart Inc.'s CEO Carl "Doug" McMillon's journey in the company is nothing short of remarkable.
He started unloading trucks at Walmart distribution center as a teenager to eventually become the youngest CEO since founder Sam Walton.
His dedication to the company paid off, as he now leads one of the world's largest retailers.
McMillon at Walmart: McMillon began his lifelong career at Walmart in 1984. He worked several roles at the company, with his first semi-executive role being in charge of buying the company’s fishing tackle — which led to his buying for other departments including food, clothes, crafts and furnishings.
The University of Arkansas and the University of Tulsa graduate was named president and CEO of Sam’s Club (owned by Walmart) in 2005.
After working at Sam’s Club for four years, he was named CEO of Walmart International, where he was until 2014.
He was named president and CEO of Walmart in 2014 and has served as its CEO since.
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McMillon As Socially Conscious And Philanthropic: McMillon is more than just a CEO — he's part of a new wave of socially conscious leaders in the corporate world, who are unafraid to speak up on issues that matter.
Bloomberg profiled McMillion in 2019, calling him a member of a new breed of CEOs who are "woke," in contrast to their hesitant predecessors.
After he was named CEO of Walmart in 2014, McMillion wasted no time taking stands on national hot-button issues.
The charismatic CEO limited ammunition sales in the aftermath of two fatal shootings at Walmart stores, condemned former President Donald Trump's comments following Charlottesville, promised changes to the company's supply chain that would be environmentally friendly, and urged Congress to raise the minimum wage.
When teen vaping became a contentious topic, he also stopped selling e-cigarettes in about 5,300 U.S. locations.
After the Bloomberg profile in 2019, McMillon earned the highest score on the Connected Leadership Index, which subsequently named him the most connected CEO in the U.S.
Following the death of George Floyd, McMillon vowed Walmart would offer funds and mentorship to improve racial justice. He also denounced racial violence.
The company donated a total of $14 million to 16 different nonprofit organizations and set a goal to donate $100 million over five years to fight systemic racism.
McMillon earned $25.7 million in total compensation in fiscal 2022, according to Business Insider, and as a philanthropist, he donated millions to various causes.
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Some elements of this story were previously reported by Benzinga and it has been updated.
Photo: Courtesy Walmart
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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