Longtime Wal-Mart Employee Chosen As CEO

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Doug McMillon of Jonesboro, Arkansas, started at Wal-Mart in 1984 — it was a summer job unpacking trucks. On Monday he was named as the retail giant's new CEO. Not only is McMillon, 47, an insider who rose through the ranks, he's one of the few executives who worked under founder Sam Walton.

DAVID GREENE, HOST:

NPR's business news begins with a new chief at Wal-Mart.

(SOUNDBITE OF MUSIC)

GREENE: Doug McMillon of Jonesboro, Arkansas, started at Wal-Mart in 1984. It was a summer job, he was unpacking trucks. Yesterday, he was named as the retail giant's new CEO. Not only is the 47-year-old McMillon an insider who rose through the ranks, he's one of the few executives who actually worked under founder Sam Walton.

A Signal analyst say that Wal-Mart is not planning a major overhaul anytime soon.

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