#345: Doug McMillon — CEO of Walmart
The Tim Ferriss Show
What Kind of Training Did You Have as a Buyer?
Most of the a learning that you have as a merchant, especially back then, came from the people around you. So it's really learning on the job, and in principles coming out. You know, walmart hasn't, in some circles, this reputation for being really tough. I would say we're tough on behalf of the customer, but we always try to be fair.
Doug McMillon (IG: @dougmcmillon) is president and chief executive officer of Walmart, a company that, if it were a country, would be the 25th largest economy in the world. Walmart serves 265 million customers weekly in 27 countries across more than 11,000 stores and online, and the company employs roughly 2.2 million associates worldwide, which would equate to the second largest army in the world (behind China) if it were tasked with defending that 25th largest economy.
75 percent of Walmart's store management team began as hourly associates, and Doug is no exception. He started out in 1984 as a summer associate in the Walmart distribution center, and in 1990 while pursuing his MBA, he rejoined the company as an assistant manager in Tulsa before moving to merchandising as a buyer trainee. He worked his way up, and from 2005 to 2009 he served as president and CEO of Sam's Club (owned and operated by Walmart) with sales of more than $46 billion annually during his tenure.
From February of 2009 to 2014, Doug served as president and CEO of Walmart International, a fast-growing segment of Walmart's overall operations. He has served on the board of directors for Walmart since 2013 and is currently the chair of the executive and global compensation committees. In addition, he serves on the board of directors of the Consumer Goods Forum, the US-China Business Council and Crystal Bridges Museum of American Art. He also serves on the executive committee of the Business Roundtable and the advisory board of the Tsinghua University School of Economics and Management in Beijing, China.
This episode was recorded live at the Heartland Summit in Bentonville, AR, surrounded by the jaw-droppingly mind-blowing Crystal Bridges Museum of American Art. Please enjoy!
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