What key strategies did Doug McMillon implement during his Walmart tenure?

Doug McMillon prioritized investing in employee wages, increasing the minimum to $14 per hour, and significantly boosted e-commerce through acquisitions and online grocery sales to compete with Amazon.

What was Walmart's reputation when Doug McMillon became CEO?

When Doug McMillon became CEO in 2014, Walmart had a poor reputation, being perceived as a bad employer and a seller of cheap goods, facing intense competition.

What role did Doug McMillon play in advocating for minimum wage increases?

Doug McMillon was a vocal proponent of raising the federal minimum wage, believing it was crucial for fostering a strong middle class and benefiting consumers.

Home / Business and Economy / Walmart CEO Retires: A $1 Trillion Turnaround

Walmart CEO Retires: A $1 Trillion Turnaround

11 Feb

•

Summary

Doug McMillon led Walmart's resurgence from a poor reputation to a $1T market cap.
Walmart invested in employee wages and online growth, countering Amazon's rise.
McMillon advocated for a higher federal minimum wage during his tenure.

Walmart CEO Retires: A $1 Trillion Turnaround

Doug McMillon recently retired as CEO of Walmart after a transformative 12-year tenure, during which the company's market capitalization reached $1 trillion. He began his career at Walmart in 1984, starting in a warehouse before ascending to lead the company.

Upon taking the CEO role in 2014, McMillon inherited a company with a tarnished reputation, facing intense competition from Amazon and discount grocers. He initiated a significant turnaround by prioritizing investments in employee wages, increasing the minimum wage to $14 per hour and improving working conditions.

McMillon also strategically focused on e-commerce, investing billions in startups like Flipkart and Jet.com. This move, along with a successful push into online grocery sales, helped Walmart compete more effectively against Amazon and adapt to changing consumer habits.