Walmart Names New CEO

Mike Duke, CEO since 2009, will be replaced in February

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Walmart said Monday that CEO Mike Duke will be replaced in February by the retail giant’s head of international business, as the company navigates hurdles to continued growth in the U.S. and abroad.

Doug McMillon, 47, will take Duke’s spot at the helm as the fourth CEO since Walmart became a publicly traded company in 1970. Walmart has been expanding in international markets like China but has been boggled down by bribery allegations in Mexico and, at home, by challenges from Internet retailers like Amazon.

The company’s stock price, which has seen sluggish growth relative to the surging market, had inched up 0.71 percent to $80.38 mid-morning on Monday after the announcement.