Mike Duke

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Mike Duke
Walmart CEO Mike Duke on Tips to Being the Best Retailer.jpg
Duke speaks at a Walmart Shareholders meeting
Born Michael Terry Duke
(1949-12-07) December 7, 1949 (age 67)
Alma mater Georgia Tech
Employer Walmart
Board member of Consumer Goods Forum

Michael Terry "Mike" Duke (born December 7, 1949)[1] is an American businessman. He served as the fourth chief executive officer of Walmart from 2009 to 2013.[2]

Biography[edit]

Duke joined Wal-Mart in 1995, serving as the executive in charge of the company's international operations. He became the CEO of Wal-Mart in February 2009.[2]

Duke also serves on the board of directors for the Retail Industry Leaders Association and Arvest Bank's community advisory board. He formerly held positions with a number of retailers, including Federated Department Stores, May Department Stores, and Venture Stores. Duke earned a BS in Industrial Engineering from the Georgia Institute of Technology in 1971, where he joined the Delta Sigma Phi Fraternity,[3] and now serves as a member of the institution's advisory board. He sits on the Board of Directors of the Consumer Goods Forum.[4]

In 2010 he set goals to make Wal-Mart energy efficient as possible and to open Wal-Marts in countries like Russia.[5]

In 2012, his salary was $18.2 million.[6] In 2013, press reports indicated that the total value of Duke's pension, deferred compensation and other retirement accounts totalled over $113 million.[7]

Duke ranked No. 10 on Forbes list of The World’s Most Powerful People in 2013.[8] That same year, Wal-Mart ranked No. 15 on Forbes list of Most Patriotic Brands—and the only retailer on the list—as voted by U.S. consumers.[9] As of November 25th, 2013, Duke's tenure as CEO ended with his sudden replacement by the board of Walmart.[10]

Duke said in 2012 that his biggest regret as CEO was not investing more in e-commerce to better compete with Amazon. "I wish we had moved faster. We've proven ourselves to be successful in many areas, and I simply wonder why we didn't move more quickly. This is especially true for e-commerce," Duke said at the time. "Right now we're making tremendous progress, and the business is moving, but we should have moved faster to expand this area." Mike Duke said in 2012 that his biggest regret as CEO was not investing more in e-commerce to better compete with Amazon.[11]

References[edit]

  1. ^ Kapner, Suzanne (February 18, 2009). "Changing of the guard at Wal-Mart". Fortune. Retrieved 2009-07-16. 
  2. ^ a b Kavilanz, Parija B. Wal-Mart names new CEO: World's largest retailer says international chief Mike Duke will succeed Lee Scott, who is retiring., CNNMoney.com, 2008-11-21
  3. ^ http://www.deltasig.org/about/distinguished_alumni
  4. ^ Consumer Goods Forum website, Board of Directors
  5. ^ Gilbert, Sara (2012). The Story Of Wal-Mart. Mankato, MN: Creative Education. p. 42. ISBN 9781608180646. 
  6. ^ Forbes http://www.forbes.com/profile/michael-duke/.  Missing or empty |title= (help)
  7. ^ Walmart CEO's Retirement Plan 6,200 Times Bigger Than Workers' Plans: Study, by Maxwell Strachan, 15 November 2013 Huffington Post
  8. ^ "The World's Most Powerful People". Forbes. Retrieved 24 November 2013. 
  9. ^ Heller, Laura. "Walmart Tops List Of Most Patriotic Brands". Forbes. Retrieved 24 November 2013. 
  10. ^ Barr, Alistair (November 25, 2013). "Walmart CEO steps down; McMillon successor". USA Today. Retrieved 25 November 2013. 
  11. ^ "Warren Buffett just dropped Walmart, and signaled the death of retail as we know it". Business Insider. Retrieved 14 February 2017. 

External links[edit]

Preceded by
Lee Scott
President of Wal-Mart
2009–2013
Succeeded by
Doug McMillon