New Wal-Mart CEO to Receive $1.2 Million Base Salary

By Dow Jones Business News, 
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By Michael Calia

Wal-Mart Stores Inc. said Wednesday that new Chief Executive C. Douglas McMillon will receive $1.2 million in annual base salary.

Mr. McMillon, a longtime company veteran who has most recently served as president and CEO of Wal-Mart International, will also continue to be eligible for an annual equity award, the retailer said in a filing. He is scheduled to take over as CEO on Feb. 1.

The compensation, nomination and governance committee of the company's board approved Mr. McMillon's salary Friday, according to the filing.

Wal-Mart's outgoing CEO, Michael Duke, received an annual base salary of a little more than $1.3 million in the company's fiscal 2013.

Write to Michael Calia at michael.calia@wsj.com

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  (END) Dow Jones Newswires
  01-29-141911ET
  Copyright (c) 2014 Dow Jones & Company, Inc.


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