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Total Pay for Walmart CEO Doug McMillon Hits $23.6M

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Walmart Inc. President and CEO C. Douglas McMillon saw his total compensation increase 3.6% to $23.6 million for the fiscal year that ended Jan. 31 compared with the previous year.

McMillon, who has been head of the Bentonville retailer since February 2014, received stock awards of $15.6 million during the fiscal year, according to the company’s annual proxy. McMillon received a $5.1 million bonus. His salary was $1.3 million, the same as it was the previous year.

The annual total compensation of Walmart’s median associate was $21,952, which was up 14.5% from the previous year. The ratio of McMillon’s total compensation to the median associate’s was 1,076-to-1. Most of McMillon’s total compensation includes the stock awards of $15.6 million, which has not yet been earned or paid but will be determined based on Walmart hitting its goals.

The company set 10:30 a.m. June 5 as the date for its annual shareholders’ meeting, which will be held at the John Q. Hammons Center in Rogers. An Associates/Shareholders Celebration will be held at 8 a.m. on June 7 at the Bud Walton Arena at the University of Arkansas at Fayetteville.

The proxy also showed that M. Brett Biggs, Walmart’s chief financial officer, had total compensation of $9.4 million, an increase of 24.1% from the previous year. He had a salary of $892,948, stock awards of $5.7 million and a bonus of $2.2 million.

Gregory Foran, president and CEO of Walmart U.S., received $13.5 million in total compensation, up from $11 million the previous year. His base salary slightly increased to $1.1 million. He received stock awards valued at $8.8 million, up from $6.7 million the previous year. His bonus was $2.9 million.

John R. Furner, president and CEO of the Sam’s Club division, had a compensation package worth $9.3 million, which was down from $12.8 million the previous year. His salary was $799,425, and he received $6.3 million in stock options and a $1.8 million bonus.

Judith McKenna, president and CEO of Walmart International, had a compensation package worth $12.9 million. Her base salary was $1 million, and she had stock awards worth $9.2 million and a bonus of $2.3 million. This is the first time McKenna appeared on the list of named executives.

Board Changes

The Walmart board has nominated Cesar Conde, 45, who is chairman of NBCUniversal Telemundo Enterprises and NBCUniversal International Group, to become a new director.

Walmart’s board recommends that shareholders approve hiring Ernst & Young LLP as the company’s accountants for the fiscal year that ends Jan. 31. The New York accounting firm earned $28.1 million in fees in Walmart’s fiscal year, up from $24.4 million the previous year. 

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