How Doug Mcmillon Went From Unloading Walmart Trucks As A Teen To Earning $26.9 Million As Ceo
Walmart President and CEO Doug McMillon.
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- Walmart CEO Doug McMillon started his career with the company unloading trucks in Arkansas.
- After college, he rose through the ranks to join the C-suite in 2005 and was appointed CEO in 2014.
- McMillon is now in charge of 2.1 million employees, more than 10,000 stores, and annual sales of $648 billion.
Doug McMillon has been part of the Walmart family for a very long time.
40 years ago, McMillon started unloading trucks at a Walmart distribution center as a teen saving money for college, and later rose through the ranks to join the C-suite in 2005.
Since becoming CEO in 2014, McMillon has expanded Walmart's offerings by launching Walmart+ and modernizing the company with new tech, drone delivery services, and by leveraging generative AI.
McMillon is now in charge of the largest company in the world by sales and headcount, with 2.1 million employees, more than 10,000 retail stores, and annual sales of $648 billion.
Here's a look at McMillon's journey from unloading trucks to becoming the Walmart CEO.
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When he was 16, his family moved to the birthplace of Walmart, Bentonville, Arkansas, where his father opened a dental practice.
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"The highest paying job in Bentonville, Arkansas, in 1984 was the Walmart Warehouse at $6.50 an hour compared to McDonald's at $3.35, so I chose Walmart," McMillon told the Stratechery podcast. ($6.50 an hour in 1984 is worth about $19.79 in today's dollars.)
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He graduated in 1989 with a bachelor's degree in business administration. His Instagram bio, "Husband. Father. Razorback. Gadget geek. Retail lifer. Proud Walmart associate," nods to the university's mascot, a razorback hog known as "Big Red."
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While completing his studies, he returned to Walmart as an assistant manager at store #894 in Oklahoma. Soon after, McMillon moved back to his Arkansas hometown to be Walmart's fishing tackle buyer at the corporate headquarters.
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He worked as a general merchandise manager at Sam's Club (Walmart's wholesale club store) and climbed to a senior VP at Walmart overseeing toys, electronics, and sporting goods.
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McMillon found success by focusing on small business owners, the Wall Street Journal reported.
"The job at Sam's really stretched me to be responsible for everything from club operations to real estate, finance and all the other functions, which was a lot of fun. And I finally started to use my MBA a bit to polish off some of those skills," McMillon told Stratechery.
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With the international business, "we were all over the world and operating these different independent businesses, and got a lot more involved in strategy, M&A, and talent development specifically," McMillon told Stratechery.
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In 2019, Walmart announced it would stop selling e-cigarettes after vaping-related lung injuries were linked to 530 hospitalizations and eight deaths. That year, Walmart also announced it would limit the sales of guns and ammunition in the wake of two deadly shootings at Walmart stores in El Paso, Texas, and Southaven, Mississippi.
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In February 2021, McMillon urged Congress to pass another stimulus check, referencing Walmart spending data as proof that families need more money to buy essentials like groceries.
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The company donated a total of $14 million to 16 different nonprofit organizations and set a goal to donate $100 million over five years to fight systemic racism.
Courtesy of Sam's Club
The company also launched the Walmart Connect advertising business, express delivery, and curbside pickup at Sam's Club.
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The company reported a 32% year-over-year increase in inventory in the second quarter that year.
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"It's a people business and it's a merchandising business," McMillon told Stratechery. "Today, it's increasingly a technology business."
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"We've changed and are changing a lot," McMillon said at the Consumer Electronics Show in January. "I've been asked, how do you even describe Walmart today? We're a people-led, tech-powered, omni-channel retailer dedicated to helping people. We want to help people live better. That starts with saving them money. But it doesn't stop there."
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By comparison, Target CEO Brian Cornell's most recently disclosed compensation package was $17.6 million, while Craig Jelinek made $16.8 million in his final year as Costco's CEO.
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"Under his leadership as president and CEO, Walmart is investing heavily in wages, benefits and education — including a debt-free college program and an expanded parental leave policy," his corporate bio says. "During his tenure, the company also set an aspirational goal to become a regenerative company and launched ambitious work such as Project Gigaton to combat climate change and work with suppliers to avoid 1 billion metric tons of emissions worldwide."
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His top tips: do your job well, be a good teammate, and help solve new challenges.
Ben Tobin and Hannah Towey contributed to previous versions of this story.
