Wal-Mart Stores has named Doug McMillon the next CEO of the world's largest retailer,replacing the retiring Mike Duke in January.Arkansas native McMillon,47,had worked his way up from unloading trucks at a warehouse to being head of Wal-Mart's international division as President and CEO of Wal-Mart International.
Mr.McMillon's position is a CEO training program,said analyst David Schisk of Stifel Nicolaus.He's had a taste of different opportunities and challenges.This appointment is very much expected.The CEO of Wal-Mart is essentially a major political job,on top of everything else.*
Wal-Mart needs to have a focus on being the best to their core customer.They don't have to take over the planet for growth's sake.It's a massive company.What we're seeing Wal-Mart and the entire industry focusing on is omnichannel,which is using your mobile phone to help you shop more efficiently.*
I think Wal-Mart is doing a better job of cooperating internationally,rather than competing,adds David Kelly of JP Morgan Asset Management.The working age population is declining in most of the developed world.You've got to be in the emerging markets,and in emerging markets beyond China-in Vietnam and Indonesia.*
Wal-Mart has done just that by acquiring a controlling stake in South African retailer Massmart.Massmart is listed on the Johannesburg Stock Exchange.It has about 290 stores in 14 countries,most of them in South Africa.It also manages 8 wholesale and retail chains,including Game;Dion;Makro;Shield;and CCW.
Founded in 1990,Massmart is Africa's third-largest distributor of consumer goods;the leading retailer of general merchandise,liquor and home improvement equipment and supplies;and the leading wholesaler of basic foods.
South Africa is a fast-growing market,but troubled by a high crime rate and unemployment.*
Wal-Mart Stores Inc(WMT),Massmart Holdings Ltd(MSM:SJ)
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