Getting your player ready...
is , and 47-year-old will take the role starting Feb. 1, 2014.
“After 18 years, Mike Duke announces retirement; Doug McMillon to be youngest #Walmart President & CEO since Mr. Sam,” tweeted the account.
McMillon previously served as CEO of Walmart International.
Duke, age 63, will continue serving as chairman of the executive committee of the board and will serve as an adviser to McMillon for one year.
McMillon will also join Wal-Mart’s board. That appointment is effective immediately.
The Associated Press contributed to this report.
