Michael Terry Duke (born December 7, 1949) is an American businessman. He served as the fourth

chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

Walmart Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores in the United States and 23 other ...

from 2009 to 2013.Kavilanz, Parija B
Wal-Mart names new CEO: World's largest retailer says international chief Mike Duke will succeed Lee Scott, who is retiring.

CNNMoney CNN Business (formerly CNN Money) is a financial news and information website, operated by CNN. The website was originally formed as a joint venture between CNN.com and Time Warner's '' Fortune'' and ''Money'' magazines. Since the spin-off of T ...

.com, 2008-11-21 Duke was elected a member of the

National Academy of Engineering The National Academy of Engineering (NAE) is an American Nonprofit organization, nonprofit, NGO, non-governmental organization. It is part of the National Academies of Sciences, Engineering, and Medicine (NASEM), along with the National Academ ...

(2010) for leadership and contributions to the design and implementation of innovative logistics and retail technologies.

Biography

Duke joined

in 1995, serving as the executive in charge of the company's international operations. He became the CEO of Walmart in February 2009, succeeding Lee Scott. Duke also serves on the

board of directors A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulatio ...

for the

Retail Industry Leaders Association Retail is the sale of goods and Service (economics), services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturing, manufacturers ...

and

Arvest Bank Arvest Bank is a bank headquartered in Bentonville, Arkansas, with branches in Arkansas, Kansas, Oklahoma and Missouri. It is the oldest bank in Arkansas and is on the list of largest banks in the United States. It is almost entirely owned by the ...

's community advisory board. He formerly held positions with a number of

retailer Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesal ...

s, including

Federated Department Stores Macy's, Inc. (previously Federated Department Stores, Inc.) is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus (departm ...

May Department Stores The May Department Stores Company was an American holding company of department stores founded in 1877 by David May. It operated several regional department stores throughout the United States, which were managed as distinct business divisions ...

, and

Venture Stores Venture Stores, Inc., was a chain of retail stores aimed at the discount department-store market. John Geisse, formerly of Target Stores, and May Department Stores' executive vice president, Dave Babcock, founded the chain in 1968. Venture Store ...

. Duke earned a BS in

Industrial Engineering Industrial engineering (IE) is concerned with the design, improvement and installation of integrated systems of people, materials, information, equipment and energy. It draws upon specialized knowledge and skill in the mathematical, physical, an ...

from the

Georgia Institute of Technology The Georgia Institute of Technology (commonly referred to as Georgia Tech, GT, and simply Tech or the Institute) is a public university, public research university and Institute of technology (United States), institute of technology in Atlanta, ...

in 1971, where he joined the

Delta Sigma Phi Delta Sigma Phi (), commonly known as Delta Sig, is a fraternities and sororities, fraternity established in 1899 at City College of New York, The City College of New York (CCNY). It was the first fraternity to be founded based on religious and e ...

fraternity, and in 2009 served as a member of the institution's

advisory board An advisory board is a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation. The informal nature of an advisory board gives greater flexibility in structure and management compared to the ...

. As of 2012 he sat on the board of directors of the

Consumer Goods Forum The Consumer Goods Forum (CGF) is a global, industry-led network that brings together over 400 member companies, including retailers, manufacturers, and other stakeholders from 70 countries in the consumer goods industry. It focuses on driving posi ...

. In 2010 he set goals to make Walmart energy efficient as possible and to open Walmart stores in countries like

Russia Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

. In 2012, his salary was $18.2 million. Duke ranked No. 10 on ''

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'' list of The World's Most Powerful People in 2013. That same year, Walmart ranked No. 15 on ''

'' list of Most Patriotic Brands—and the only retailer on the list—as voted by U.S. consumers. As of November 25, 2013, Duke's tenure as CEO ended with his sudden replacement decided by Walmart's Board. Press reports indicated that the total value of Duke's pension, deferred compensation and other retirement accounts totaled over $113 million. Duke said in 2012 that his biggest regret as CEO was not investing more in e-commerce to better compete with Amazon. "I wish we had moved faster. We've proven ourselves to be successful in many areas, and I simply wonder why we didn't move more quickly. This is especially true for e-commerce," Duke said at the time. "Right now we're making tremendous progress, and the business is moving, but we should have moved faster to expand this area."

References

External links

Wal-Mart profile

Forbes profile
{{DEFAULTSORT:Duke, Mike 1949 births Directors of Walmart Georgia Tech alumni Living people 20th-century American businesspeople