Wal-Mart CEO to hand over the reigns early next year

Wal-Mart Stores CEO Mike Duke will retire early next year, and Doug McMillon, president and CEO of Wal-Mart International, will be promoted to the post effective Feb. 1. McMillon, who has already been named to the retailer's board of directors, joined the company in 1984 and served as president and CEO of Sam's Club from 2005 to 2009. Duke will stay on as an adviser to McMillon for one year, and will remain as chairman of the board's executive committee.

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