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Walmart Stores announces Mike Duke as new chief

PUBLISHED ON: November 21, 2008 | Duration: 0 min, 53 sec

  
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Wal-Mart Stores Inc, the world's largest retailer, unexpectedly announced Friday its chief executive will retire in February and be replaced by the head of its international division, Mike Duke. The Bentonville, Ark-based retailer said Duke, 58, will take over the reins from Lee Scott, 59, effective February 1. Duke also becomes a member of the board of directors effective immediately.
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