Walmart CEO’s Total Compensation Dips to $25.3M

Doug McMillon, president and CEO of Wal-Mart Stores Inc., has aggressively pushed the discount retailer into a new era emphasizing online shopping. Many of Wal-Mart’s moves in 2017 took direct aim at its chief competitor, Amazon.

Walmart Inc. President and CEO Doug McMillon saw his total compensation fall 1.4% to $25.3 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 $19.4 million during the fiscal year, according to the company’s annual proxy statement filed Thursday with the Securities & Exchange Commission.

McMillon received a $3 million bonus. His salary was $1.47 million, an increase from Walmart’s previous fiscal year.

Most of McMillon’s total compensation includes the stock awards of $19.4 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 $27,136, an increase of 7.1% from the previous year. The ratio of McMillon’s total compensation to the median employee’s was 933-to-1.

For the fourth year in a row, a virtual annual shareholders meeting is scheduled for May 31 at 10:30 a.m.

The proxy also showed that John David Rainey, who became Walmart’s chief financial officer on June 6, had a total compensation of $39.73 million. This was the first year he appeared as a named executive. His salary was $700,000 and he received a bonus of $5 million. His stock awards were worth $32.7 million.

Rainey replaced Brett Biggs, who served as Walmart’s CFO through June 5. Biggs’ salary in the fiscal year that ended on Jan. 31 was $1 million and his total compensation was $2 million.

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 $16.1 million, a slight decrease from the $16.7 million he received the previous year. Kumar’s salary during the fiscal year that ended Jan. 31 was $1.1 million. His stock awards were worth $13 million, slightly more than the previous year.
• John Furner, president and CEO of Walmart U.S., had a compensation package worth $14.1 million, which was down from the $14.7 million the previous year. His salary increased 12.4% to $1.22 million, and he received $10.7 million in stock options and a $1.6 million bonus.
• Judith McKenna, president and CEO of Walmart International, had a compensation package worth $13.83 million, which was slightly lower than last year’s amount of $13.9 million. Her base salary was $1.1 million, and she had stock awards worth $9.7 million and a bonus of $2.3 million.
• Kathryn McLay, president and CEO of the Sam’s Club division, had total compensation of $11.9 million, an increase from the previous year’s $11.5 million. The majority of her compensation came from stock awards of $8.7 million. Her base salary was $973,771, an increase from $799,575.