Wal-Mart Names New Head of International Division

By Chuck Bartels

Little Rock, Ark. -- Wal-Mart (WMT Quote), the world's largest retailer, on Wednesday named the president and CEO of its Sam's Club warehouse division to fill the same roles at its expanding international unit.

Doug McMillon, 42, will head the company's second-largest operating segment, which had been run by Mike Duke, vice chairman of Wal-Mart's international division, before Duke was tapped in late November to succeed Lee Scott as Wal-Mart's president and chief executive.

Analysts said when Duke was named CEO it was a sign that the company sees its future growth overseas. The international business is Wal-Mart's fastest-growing division.

Wal-Mart has been one of the few successes in retail of late, as consumers wary about spending money with the economy in recession search for value and focus on necessities. About a quarter of the company's revenue comes from its international division, which operates in 12 countries and Puerto Rico.

Duke said in a statement that McMillon will enter his new position "at a time of strength and momentum" and that the company has a "strategy to win in all markets." He said McMillon "appreciates the broader role Wal-Mart can play in the world" and expects him to enhance the company's growth overseas.

"We will continue to focus on emerging markets with strong growth potential, as well as established markets that we believe have the potential to deliver consistently strong returns," Duke said.

McMillon said Wal-Mart's international stores fill a need for goods sold at low prices.