Walmart CEO Doug McMillon’s Total Compensation Rises to $27M

Doug McMillon, President and CEO of Walmart (Photo provided by Walmart)

Walmart Inc. President and CEO Doug McMillon saw his total compensation increase 1.6% to $27.4 million for the fiscal year that ended Jan. 31 compared with the previous year.

McMillon, who has been head of the Bentonville-based retailer (NYSE: WMT) since February 2014, received stock awards of $20.4 million during the fiscal year, according to the company’s annual proxy statement filed Thursday with the Securities & Exchange Commission.

McMillon received a $4.3 million bonus. His salary was $1.51 million, a slight increase from $1.5 million for Walmart’s previous fiscal year.

Most of McMillon’s total compensation includes the stock awards of $20.4 million, which has not yet been earned or paid but will be determined based on Walmart hitting its goals.

The annual total compensation of Walmart’s median employee was $29,469, an increase from $27,136 the previous year. The ratio of McMillon’s total compensation to the median employee’s was 930-to-1.

Walmart has more than 2.1 million employees worldwide.

For the sixth year in a row, a virtual annual shareholders meeting is scheduled for June 5.

More executive pay disclosures

The proxy also showed that Walmart’s chief financial officer, John David Rainey, had a total compensation of $13.5 million, up from $13.2 million last year. His salary was $1.03 million, a slight increase from $1 million last year. His stock awards were $9.96 million, up from $9.1 million the previous year. 

Walmart’s named executives won’t own the stock awards listed until after a period of several years, and the stock awards are not part of an annual payout or vesting.

Other named executives and their compensation:

• Suresh Kumar, the company’s global chief technology and development officer, had total compensation of $15.98 million, an increase from the $14.5 million he received the previous year. Kumar’s salary during the fiscal year that ended Jan. 31 was $1.1 million, a slight increase from last year. His stock awards were worth $12.2 million, an increase from last year’s award of $10.8 million. 
• John Furner, president and CEO of Walmart U.S., had a compensation package worth $16.3 million, which was up from the $15.6 million the previous year. His salary increased to $1.3 million, and he received $11.75 million in stock options and a $2.8 million bonus.
• Kath McLay, president and CEO of Walmart International, had total compensation of $15.3 million, an increase from the previous year’s $13.7 million. The majority of her compensation came from stock awards of $11.2 million, up from $10.3 million the previous year. Her base salary was $1.12 million, an increase from $1 million. 
• Chris Nicholas earned a salary of $899,808 as president and CEO of Sam’s Club, a division of Walmart.  His total compensation was $11.4 million, a decrease from $12.7 a year ago.