Walmart Names Latest CEO
This morning, Walmart named its fourth CEO, Doug McMillon, today. He will replace current CEO of the past five years, Mike Duke, in February.
McMillon is currently in charge of Walmart’s international division which is facing challenges with competition from online retailers.
Walmart is currently facing scrutiny due to the fact that it pays full-time workers less than $25,000, though it makes almost $20 billion annually. A group called Our Walmart plans to protest the issue on Black Friday.
After the announcement, TIME reports Walmart’s stock rose just short of a percentage.
Reach Executive Producer Jillian Morabito here.