In People

Wal-Mart CEO pay rises slightly to USD19.8 million

Wal-Mart Stores Inc Chief Executive Doug McMillon’s pay rose slightly to USD19.8 million in the year ended Jan. 31, a regulatory filing on Wednesday showed, even as profit at the world’s largest retailer fell on higher costs.

The total compensation, which includes cash and stock, compared with the USD19.4 million he made the previous year, according to the filing to the US Securities and Exchange Commission.

McMillon, 49, took over the top job at Wal-Mart in February 2014.

Last fiscal year Wal-Mart’s operating income fell 11 percent to USD24.1 billion and sales dropped 0.7 percent to USD482 billion, reflecting a USD1 billion outlay to raise entry-level wages and a firmer dollar, which cut into the value of overseas sales.

(Source: CNBC)

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