Wal-Mart Names New Head of International Division

"Our strategy of focused execution, leveraging our global scale, our global commitment to low prices and the dedication of our associates positions us well for further success," McMillon said in the statement.

Wal-Mart said neither McMillon nor Duke would grant interviews Wednesday. Both will assume their new duties Feb. 1.

"It is exciting to promote a long-term associate to lead our second-largest business," Duke said in the statement. "Doug began his Wal-Mart career as an hourly associate, unloading trucks at a distribution center, while he worked his way through college. In his 18 years with the company, Doug has learned the business from the bottom up, with leadership roles in all three operating divisions."

Wal-Mart's largest international presence is in Mexico, with more than 1,000 stores. The international division had $90.6 billion in revenue for fiscal 2008, up 17.5% from the year before. The company has been growing in China and has entered India, through a joint venture with Bharti Enterprises for a wholesale operation.

Wal-Mart said it will name a leader for the Sam's Club division at a later date.

Shortly after the opening bell, Wal-Mart shares dipped 4 cents to $55.98.