Michael Terry Duke
December 7, 1949
|Alma mater||Georgia Tech|
|Board member of||Consumer Goods Forum|
Duke was elected a member of the National Academy of Engineering (2010) for leadership and contributions to the design and implementation of innovative logistics and retail technologies.
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, and in 2009 served as a member of the institution's advisory board. As of 2012 he sat on the Board of Directors of the Consumer Goods Forum.
Duke ranked No. 10 on Forbes list of The World's Most Powerful People in 2013. That same year, Walmart ranked No. 15 on Forbes list of Most Patriotic Brands—and the only retailer on the list—as voted by U.S. consumers. As of November 25, 2013, Duke's tenure as CEO ended with his sudden replacement decided by Walmart's Board. Press reports indicated that the total value of Duke's pension, deferred compensation and other retirement accounts totaled over $113 million.
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."
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- Walmart CEO's Retirement Plan 6,200 Times Bigger Than Workers' Plans: Study, by Maxwell Strachan, 15 November 2013 Huffington Post
- "Warren Buffett just dropped Walmart, and signaled the death of retail as we know it". Business Insider. Retrieved 14 February 2017.