Mike Duke

Walmart announced a change at the top Monday, revealing that Mike Duke will retire, with  Doug McMillon taking over next Feb. 1.

Two years ago this month, Wal-Mart CEO Mike Duke dropped a bomb on the retailing world by announcing that the company would spearhead an audacious effort to create a "sustainability index" that would reassure the environmental and social impact of every product sold in its stores. Though the move was generally praised by environmentalists, Wal-Mart had not suddenly turned green -- it turns out a vast amount of money is to be made by reducing energy and waste up and down the supply chain. As the world's largest company, Wal-Mart had the clout

For Wal-Mart CEO Mike Duke who grew up in rural Georgia, back-to-school season meant a new pair of jeans, and if he was lucky, a couple of shirts too.

"That was about it. That's what shopping was like for my family. That's what shopping was like for much of America in the 1960s," Duke said last week at the company's annual meeting.

Fast forward to 2011, and retailers are betting tech-savvy teens will urge their parents to splurge on tablet computers instead, in the second biggest selling season of the year.

The chief executive of Walmart this week predicted a "late Christmas" in which consumers will continue to watch their spending

More Blogs