December 06, 2013
Doug McMillon (left) and Mike Duke
Walmart’s board of directors has elected Doug McMillon, 47, to succeed Mike Duke, who is retiring, as president and chief executive officer, effective February 1. McMillon has also been elected to the company’s board.
"This leadership change comes at a time of strength and growth at Walmart," said Rob Walton, chairman, in a statement. "The company has the right strategy to serve the changing customer around the world, and Doug has been actively involved in this process. The company has a strong management team to execute that strategy."
Shopko Stores Operating Co. has named Peter McMahon chief executive officer. He replaces Michael Bettiga, who had been serving as interim CEO.
Third quarter net income at Target Corp. fell 46.4% to $341 million despite a 4% increase in sales to $17.26 billion.
Walmart reported lower-than-expected sales for the third quarter, as declining traffic at its Walmart U.S. division triggered a 0.3% decrease in comparable-store sales.
Dollar General Corp. has promoted Todd Vasos to the new position of chief operating officer.
Three Walmart suppliers have made manufacturing commitments that will create a total of 385 jobs in the United States.
Big Lots Inc. will terminate its three wholesale operations, Big Lots Wholesale, Consolidated International and Wisconsin Toy, by the end of its 2013 fiscal year in January 2014.
Shareholders of regional discounter Alco Stores Inc. have rejected a proposed merger with Mallard Parent LLC and M Acquisition Corp.
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Crossmark, a leading sales and marketing services firm, has acquired the assets of PromoWorks, a provider of insights-driven shopper marketing solutions. Terms of the transaction were not disclosed.
Lorenzo Delpani has been appointed president and chief executive officer of Revlon, replacing vice chairman David Kennedy, who served briefly as interim CEO.
Kellogg Co. has promoted Scott Salmon to senior vice president, Kellogg USA sales.
Software Paradigms International (SPI) has acquired Shiloh Technologies, a provider of retail supplier analytics solutions based in Rogers, Ark.
Quantum Health has appointed Jason Pellegrini to the position of chief executive officer. A seasoned marketing and sales executive, Pellegrini joined the company in August.
Crossmark has named former GlaxoSmithKline PLC (GSK) executive Janet Carter Smith as vice president of business development. In her new role, Carter Smith will focus on working with new client opportunities across the company's portfolio of services.
Matrixx Initiatives Inc. has named Lori Norian vice president of marketing.
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