From Truck Unloading to $25.7 Million in Compensation
McMillon was a graduate of the local public school. He then set out for Arkansas to study at the University of Arkansas, Fayetteville. He received a bachelor’s degree from the University of Arkansas in Fayetteville in 1989 in business administration. His Instagram bio says “Husband.” Father. Razorback. Gadget geek. Retail lifer. Proud Walmart associate,” refers to the university’s mascot (a razorback hog known simply as “Big Red”)
McMillon enrolled at the University of Tulsa’s MBA Program in the following year. While completing his studies, McMillon started as a buyer trainee at a local Walmart. McMillon moved to Walmart headquarters in his Arkansas hometown shortly after.
Bloomberg Businessweek reports that McMillon has worked in many areas, including food, apparel and home furnishing. He started his career as a general merchandise manger at Sam’s Club (Walmart’s Wholesale Store) and rose to the rank of senior VP at Walmart where he was responsible for toys, electronics, sporting goods, and other products.
Source: Bloomberg Businessweek
McMillon became the CEO of Sam’s Club, his first major job in the company. According to The Wall Street Journal this was where McMillon made his name by focusing on small-business owners.
Source: The Wall Street Journal
McMillon condemned racial violence after George Floyd’s death and pledged that Walmart would provide mentorship as well as funding to support racial equity. The company donated total $14 million to 16 non-profit organizations. They also set a goal to donate $100,000,000 over five years to fight systemic racist behavior.
Walmart helped to strengthen vaccination efforts across the country and provided essential goods for low-income shoppers as the Covid-19 pandemic grew. McMillon called on Congress to pass a second stimulus check in February 2021. He used Walmart spending data from February 2021 to show that families need more money in order to buy groceries and other essentials.
McMillon was also responsible for the 2020 launch of Walmart+, the Walmart Connect advertising company, and curbside pickup at Sam’s Club.
McMillon received $25.7 million in total compensation during fiscal 2022. Shelley McMillon, his wife, is a philanthropist who has donated millions to various causes.
McMillon stated that his optimism is higher now than it was at year’s beginning during a post-earnings call on May 20, 2022. “The US’s economic stimulus clearly has an impact.” McMillon’s optimism is supported by the numbers, with fiscal 2022 earnings expected increase by single digits.
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