Wal-Mart Stores president and CEO Doug McMillon told shareholders at the company’s annual meeting on Friday that the company would accelerate the pace of change going forward. Presiding over over his first shareholders’ meeting since being named chief executive, McMillon put a big emphasis on technology, saying that the chain needs to be “at the forefront of innovation and technology.”
Doug McMillon, CEO of Wal-Mart Stores, said the company plans to ramp up the company's pace of partnerships and acquisitions as part of a broader strategy to better compete with digital rivals, Bloomberg reported.
Wal-Mart executives, at the retailer's webcast of its 2012 International Conference for the investment community, said its emphasis in international markets will be on improving results in existing markets as opposed to focusing on entering new territories.
Bentonville, Ark. - Wal-Mart Stores announced Monday that it is buying a controlling stake in South Africa's Massmart in an approximately $2 billion deal. The investment gives the discounter a substantial presence in South Africa and paves the way for further expansion across the continent. Wal-Mart International president and CEO Doug McMillon made clear his company is pursuing a regional strategy.