Wal-Mart Names Next CEO

Wal-Mart Names Next CEO
November 21, 2008

Bentonville, Ark.-based Wal-Mart Stores Inc. has announced that Mike Duke, vice chairman of Wal-Mart International, will replace Lee Scott as the company's president and CEO upon Scott's retirement in February 2009, according to the Associated Press. Duke will assume the new roles on Feb. 1, 2009, and will become a member of the board of directors, effective immediately. Scott will continue to serve as the company's chairman. Additionally, Wal-Mart announced that Eduardo Castro-Wright, president and CEO of Wal-Mart U.S., will take on the additional title of vice chairman, in addition to taking over the company's global procurement operation.

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