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Longtime Wal-Mart Employee Chosen As CEO

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. Transcript provided by NPR, Copyright NPR.

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