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On Sunday, Wal-Mart Stores Inc. (NYSE: WMT) got a new CEO in Mike Duke, and with him comes a stronger focus on overseas opportunities.
As the former vice chairman of Wal-Mart International, Duke has been a key player in the company's efforts at international expansion. That the board of directors selected him as the new CEO indicates that they believe that the company will need to focus overseas to continue growing.
The Wall Street Journal reports (subscription required) that "He is expected to continue expanding Wal-Mart into new foreign markets, especially in developing nations, while remodeling domestic stores to better position the company against rivals such as Target Corp."
Wal-Mart is run on a model of ruthless efficiency and cost-oriented innovation, and Mr. Duke's job will consist primarily or continuing to steer the company along on that path. He will not have the opportunity to do too much damage with the grandiose acquisitions and empire building that have destroyed so many other companies.
Wal-Mart's new CEO see the future overseas
Posted Feb 2nd 2009 3:31PM by Zac Bissonnette
Filed under: Management, Wal-Mart (WMT)
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Reader Comments (Page 1 of 1)
2-02-2009 @ 5:19PM
BHarrison said...
Well, when Wal-Mart decides that their business in the USA is going to decline, perhaps that will signal the end of the INITIAL PHASE in this economic downturn. If Wal-Mart doesn't think that they can hold onto their previous business volume and profit level, then perhaps we are in for some RADICAL depressive business news.
Since they are pegging the recovery to the oversaturated "construction industry", then there will minimally be a two or three year cycle before the excess inventories are sold off . . . and even then, how many people and businesses will be able (or interested) in building new homes and business buildings.
let's face it, this economic struggle and "recovery" will minimally take 5 to 10 years, or longer.
Meanwhile Congress has done nothing to indict and prosecute the CEOs who orchestrated, oversaw, and perpetuated the pyramid and Ponzi schemes, the frauds of the "derivatives", or the other
FRAUDS . . . WHEN is Congress going to go after these guys for the BLATANT FRAUDS that they have created, and seek to recover substantail amounts of the ill gotten gains that these immoral and unethical CEO CRIMINALS amassed.
It is pat time for Congress to implement ways to recover these "stolen fraudualent funds" that the CEOs and upper managment have gotten from the FRADS that they perpetuated.
The American people need to start raising hell with their Congressmen . . . send, emails, faxes, telephone calls to their offices, etc. Otherwise, these crooks will be allowed to keep the money that they have stolen from the stock holders and the employees. Do it, or regret it later.