Starting Feb. 1 Mike Duke will replace Lee Scott as president and chief executive of the Wal-Mart corporation.
The move will end Scott's nearly nine-year tenure overseeing the day-to-day operations of the world's largest retailer. That time frame occurred during a period in which Wal-Mart received greater scrutiny on issues ranging from the handling of workers to its green initiatives as Scott has positioned the company to be a leader in energy efficiency.
Duke, said he is "looking forward to leading this great company, " calling Wal-Mart "very well positioned in today's economy." Scott, will remain with the company as an advisor and remain chairman of the board's executive committee.
Wal-Mart shares recently rose 1.7% at $51.50 in premarket action.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment