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What Happened When Alex Kenjeev Paid His Student Loan in CashOn 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.
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.
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