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Wal-Mart Watch Responds To Lee Scott Stepping Down As Wal-Mart CEO
For Immediate Release
Friday, November 21, 2008
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In response to Wal-Mart’s announcement today that Mike Duke will replace Lee Scott as the Chief Executive Officer, Wal-Mart Watch Executive Director David Nassar released the following statement:
“Wal-Mart’s announcement today of Mike Duke as the new Chief Executive Officer must be viewed in the context of the recent election. It represents an opportunity for Wal-Mart to change from the low-wage, low-benefit business model to one that will be more appealing to an Obama administration.
“During his eight years at Wal-Mart’s helm, Lee Scott has made life harder for Wal-Mart workers. His failure to change the company’s business practices has resulted in the largest workplace gender discrimination lawsuit in the nation’s history and numerous wage and hour lawsuits. In addition, it has diminished Wal-Mart’s reputation and hampered its ability to grow into new regional and demographic markets.
“Clearly, Wal-Mart’s board believes a new face is needed to lead the company in an Obama era. The choice of Mike Duke, Vice Chairman of the International Division, shows that the board believes that the future for Wal-Mart is overseas and not here at home, further demonstrating how seriously the company regards the challenges it will face to its business model in the years to come.”
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