DC Velocity - March 2014

A logistician

BY MITCH MAC DONALD, GROUP EDITORIAL DIRECTOR

THE DC VELOCITY Q&A

thoughtleaders

LEE SCOTT SERVED AS WALMART’S THIRD PRESident and CEO from 2000–2009, succeeding company founder Sam Walton and David Glass. He is widely credited with reinvigorating Walmart’s mission and transforming the retailer into a respected corporate leader. During his tenure, the company emerged as the world’s largest retailer with more than 2. 1 million associates and 7,390 retail operations in 16 markets around the world. It ranked No. 1 on the Fortune 500 six times between 1998 and 2008 and reported sales of more than $405 billion in 2009.

Scott joined Walmart in 1979 as assistant director of the private truck fleet in the logistics division, rising through the ranks to executive vice president of logistics in 1993 and executive vice president of merchandise in 1995. He became president and chief executive officer (CEO) of the Walmart U.S. division in 1998, chief operating officer and vice chairman for the corporation in 1999, and president and CEO in 2000.

During Scott’s tenure as president and CEO, he
oversaw a 243-percent increase in Walmart’s global
sales, to $401 billion from $165 billion, and a 277-per-
cent increase in earnings, to $3.35 per share from
$1.21. He expanded Walmart’s operations from 10 to
16 countries, including India, Japan, and Chile. Profits
also rose 249 percent to over $13 billion. During his
last year as CEO, Walmart’s was the best-performing
stock in the Dow Jones industrial average.

Building on the foundation of values Sam Walton
put in place, Scott made people a priority. Under his
leadership, Walmart assembled a strong management
team who transformed the business to thrive in a more
complex global environment while hewing to the com-
pany’s mission of “saving people money so they can
live better.”
Walmart is now recognized for its leadership in
tackling pressing economic and social challenges, like
health-care costs, employee benefits, and social and
environmental responsibility. The retailer emerged as
a leader in sustainable practices, leveraging its global
reach in the key areas of renewable energy, energy
efficiency, waste, and sustainability. The company also
worked to bring health-care costs down with its $4
generic prescription program and set aggressive goals