New Walmart CEO Faces Challenges Domestically and Worldwide
Doug McMillon is set to replace Mike Duke as the CEO of Walmart on February 1, 2014. McMillon has been with Walmart for over 25 years, and Raphael Moreau, Retailing Analyst at Euromonitor does not expect McMillon to make any drastic changes following the switch. The company faces numerous challenges in the upcoming months, including stagnant growth in the US market due to consumers leaving for dollar stores and neighborhood markets. Walmart also faces challenges in its foreign markets – its Asda chain in the UK has slowed in sales, and corruption scandals have surfaced in its Mexico-based stores. McMillon has to spur growth both domestically and foreign, and reassure investors that any cases of corruption will not be repeated.
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