it’s a troublesome time to be in retail. however Walmart is doing k — and CEO Doug McMillon is cashing in.
the highest government’s pay rose just about thirteen% to $ 22.4 million right through the company’s fiscal year that ended on Jan. 31, according to a company submitting. that’s up from $ 19.8 million the 12 months prior.
associated: Mary Barra is the sector’s high-paid auto CEO
McMillion has led Walmart (WMT) given that 2014. underneath his direction, the company has accelerated its e-commerce footprint and managed to stay within the recreation against the likes of online shopping behemoth Amazon (AMZN, Tech30).
In its most contemporary quarter, Walmart’s online sales grew 29% from a year ago. Amazon increased whole gross sales with the aid of 22%.
McMillon also closed a deal to purchase e-commerce web site Jet.com for $ 3.three billion remaining September. And he’s joined President Donald Trump’s financial advisory council.
Walmart mentioned in January it plans to create 10,000 new U.S. jobs at the top of the yr. although the additions symbolize less than 1% of the corporate’s present American staff, it runs counter to the layoffs and store shutdowns going through other retailers.
McMillon’s hefty paycheck is enviable, but not extraordinary.
In the identical ballpark: general Motors (GM) CEO Mary Barra earned $ 22.6 million in 2016, up 30% for those who exclude a one-time retention bonus she obtained the yr ahead of. Mark Fields of Ford (F) bought $ 22.1 million in 2016, a 19% pay hike. And Randall Stephenson, the top exec at AT&T (T, Tech30), acquired $ 28.4 million, up 13%, consistent with a company submitting.
CNNMoney (new york) First printed April 20, 2017: 7:26 PM ET
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