Wal-Mart CEO steps down; McMillon is successor


November 25, 2013 at 8:06p.m.

Wal-Mart CEO steps down; McMillon is successor

BENTONVILLE, Ark. (AP) — Wal-Mart Stores Inc. is ushering in a changing of the guard as the world’s largest retailer confronts slower growth and challenges to its reputation. Doug McMillon, head of Wal-Mart’s international division, will succeed CEO and President Mike Duke, 63, when he steps down on Feb 1 after five years in those roles. McMillon, a 23-year company veteran, will become the fifth CEO since Wal-Mart’s founder Sam Walton.