The Walmart CEO Intends To Remain In His Role For The Next Three Years

There was a report published in Thursday's Trade Algo that Walmart CEO Doug McMillon, 56, intends to remain at the helm of the nation's biggest retailer for at least three more years as the company searches for a successor to replace him.

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The report added that McMillon's plan to stay in the role for more than a decade will extend the period of time for the company to find the next leader, noting that people familiar with the matter said this is not the case.

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It would not be possible for Walmart to respond immediately to a request for comment from Reuters.

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According to Trade Algo, Kathryn McLay, 49, who is in charge of Walmart's warehouse chain Sam's Club, is also being considered as a potential candidate for the position.

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As the retail bellwether forecasts earnings for full-year 2023 to be below expectations, Walmart last week cautioned that the tight spending by consumers could pressure profit margins in the coming year. In its outlook for the year2023, Walmart wrote a cautious note about the economy.