Doug McMillion has been the CEO of Walmart since 2014. He has previously led the sam club division. Walmart is owned and controlled by Walton’s family and. Sam Walton is the largest shareholder, with over 50 percent of Walmart. Walmart has been among the largest grocery retailers in 2019. In this article, we will discuss all the essential things you need to know about the Walmart CEO salary as well as all other essential details you need to know.
The early life of Walmart’s CEO
Doug grew up in Arkansas despite being born in Memphis. He loved basketball so much that he played for the Bentonville high school basketball team as a Point Guard.
Leadership skills of Walmart CEO
Walmart has been making life very easy for busy families and creating a great rapport with the customers. Walmart has increased its investments in the associate’s wages, benefits, and education that includes the debt-free, dollar-a-day program as well as the expansion of the parental leave policy.
Walmart came up with an excellent program, project gigation that deals with combating climate changes and closely work with the suppliers to prevent the 1 billion metric tons of emissions globally under Doug’s leadership.
Doug has been known for championing Walmart’s customers, its associates, and the culture of the company. In 2014, he became the president and chief executive officer of Walmart. Previously, he was the president and CEO of Walmart International and served as the president and CEO of Sam’s Cub.
He has been working for Walmart for 30 years and started as a teenager unloading trucks being paid hourly. Doug proceeded to work in senior leadership roles of the business section of Walmart. He works for Walmart and is the chairman of the Business Roundtable, an association of the chief executive officers.
Doug sits in the board of directors that includes:
- Consumer Goods Forum
- U.S China Business Council
- Crystal Bridges Museum of American Art
Forbes has ranked him among the World’s most influential people in 2014, 2015, and 2016.
Walmart CEO Salary
The chief executive officer of Walmart earns a basic salary of $ 1 276 892. His basic salary, however, represents 5.8% of his total compensation of 22.11 million. His total compensation is as follows, 15.7 million in stock awards, $3.5 million in non-equity incentives and $ 1.2 million of the change in the value of the pension value and non-qualified compensation, and $ 410 091 in other compensation.
It also included $86 708 for the company’s aircraft.
Top earners at Walmart
U.S Securities and Exchange Commission stated that the compensation of the top six executive officers of Walmart is over $112.39 million. The enormous profits that the company generates are what benefits these CEOs.
The revenue of Walmart grew to an incredible $523.96 billion. The top chief executive officer earner was the Global Chief Technology Officer Suresh Kumar, who came from Google in 2019. The revenue saw the leaders pocket huge bonuses. Kumar earned a total earning of $ 45.89 million. The earnings had some bonuses that included $515 100 as well as the $43.603 million in stock awards.
Kumar earned a base salary of $576 923 and other earnings such as the $1.81 million in cash incentives and $21 603 in compensation.
The second top earner was the president and the CEO Mr. Doug, who earned 22 million dollars that included a deferred salary of $ 135,000. He has a base salary of $1.176 million that has been very consistent in the past three years. We have already covered his compensation previously in this article.
Chief Financial Officer Brett Biggs became the third earner with total compensation of $ 9.473 million. He also had $ 675,000 deferred. Brett earned a basic salary of $915 358. He saw his stock awards rise to $ 5.75 from the previous years. The $292 100 payment was deferred to and another $ 262 413.
Judith McKenna, the CEO of Walmart International, is among the top earner women in Walmart. She earned a total of $ 12.06million
Kathryn McLay, the CEO of Sam’s Club, earned a total of $13 508 million.
Walmart US CEO John Furner earned a total of $9.9 million.
C. Douglas McMillon Net Worth
The estimated net worth of Mr. Doug is at least $145 million. He owns some of Walmart shares of over 75 063 units of the Walmart Inc Stock worth $ 121 832 647. From his incredible net worth, he earns a massive salary of $ 22 million annually as Walmart’s president and CEO.
The Walmart Owner Net worth
Jim Walton is the owner of Walmart. They have been listed as the USA’s wealthiest family, having a combined net worth of $215 billion in 2020. Jim Walton got very rich because of getting his wealth from the association with Walmart.
He is estimated to be worth $ 54.6 billion as of 2020 hence becoming the world’s eighth richest man. However, as of Jan 2021, it was estimated that he is sixteen richest men globally. Walmart has more than 11 500 stores globally hence generating more than half a billion dollars in revenue.
Walton is the CEO of Arvest Bank Group as well as the chairman Committee of the Board of Community Publishers.
Doug McMillion age
McMillion is 57 years old and has been the CEO of Walmart since 2014. Walmart has both young and old executives. The oldest CEO being 74 years old.
What does Walmart do?
Walmart is a multinational retail corporation that operates a chain of:
- Hypermarkets
- Discount department stores
- Grocery stores.
According to Fortune Global 100, it is the largest company by revenue, like $ 514. 405 billion. The company also has a large number of private employers with 2.2 million employees.
Conclusion
This article is educative and will help you understand how much the CEO of Walmart earns as well as other tops earners in Walmart. You might be interested to read related post of Amazon CEO salary.