Walmart 2009 Annual Report Download - page 14

Now More Than Ever
MY DAD BUILT
WALMART FOR
THESE TIMES.
It is hard for me to remember a time
when I have been so mindful of the reason
my Dad founded Wal-Mart. He knew
that every day – and especially in today’s
tough economy – the world needs a
retailer that saves people money so they
can live better. He really built Wal-Mart
for these times.
It is humbling to know that millions of
customers around the world, some of
whom are new to our stores and clubs,
turn to us for this very purpose. I’m very
proud that Wal-Mart is there for them. In
fact, we are better positioned than ever
to meet the needs of our customers
and members.
Our strategies are clearly de ned. Our
management team is uni ed and focused
on delivering the best possible experi-
ence for customers and members. Our
merchandising teams work with suppliers
to ensure we offer value, variety and
quality. Our price leadership position
throughout the world is working for
customers, members, associates and
shareholders alike. Our sales are strong.
Wal-Mart has a very solid balance sheet
and manages the business prudently
and from a position of strength. Our
commitments to sustainability, respon-
sible sourcing and associate opportunity
increasingly are making a real and
constructive difference in the world.
Growth opportunities continue to
emerge even in di cult business envi-
ronments. Wal-Mart’s strengths provide
us with the con dence and capacity to
pursue these opportunities and the
resources to expand the scope of our
strategies even further.
Leadership Consistency
Strengthens Wal-Mart
These strengths come from
consistency – knowing who we are,
what we do and how we do it – day in
and day out. This consistency is a function
of leadership. Consider that when Mike
Duke started his new job in February, he
became only the third CEO of Wal-Mart
Stores, Inc. to succeed Sam Walton.
That is a remarkable track record in
today’s global business environment,
and I am very pleased that Mike is
leading Wal-Mart.
It also underscores the bench strength
that Wal-Mart has built throughout the
many ranks of the Company – from store
managers to senior management – that
is essential to succession planning and
operational stability.
Because of Mike’s broad experience,
both in the United States and internation-
ally, he understands and appreciates the
complexities of leading Wal-Mart in a
global economy. He is committed to the
culture and mission that are Sam Walton’s
legacy, as well as to our associates, cus-
tomers, members and shareholders. The
management teams working with Mike
are extremely talented and capable.
I cannot recount Wal-Mart’s strengths
without acknowledging the extraordinary
contributions of Lee Scott, who retired
January 31 after nine years as CEO.
My Dad would have been proud of Lee
and his accomplishments. He oversaw
a tremendous period of growth and
global expansion for our Company.
Personally, Lee stands out as a leader
who was always willing to take on chal-
lenging issues and to engage our critics in
constructive discussions when necessary.
In doing so, he helped Wal-Mart make
great strides in areas such as sustainability,
diversity and inclusion of all people. He has
helped us engage with others on impor-
tant issues such as health care, and also
helped strengthen Wal-Mart’s reputation
as a responsible and caring company.
It has been said that often the best test
of a manager is how things go after he or
she has left, rather than while he or she is
on the job. From this perspective, I believe
Lee’s legacy will be enduring. The strengths
that Wal-Mart enjoys today will serve us
well as we continue to manage through
these challenging times.
Beyond the business strategy, Wal-Mart
will continue to succeed because of its
culture and values, and the dedication of
our associates. We are, after all, ful lling
today the very same commitment to
customers that my Dad made when he
founded Wal-Mart. We save people money
so they can live better.
Rob Walton
Chairman of the Board of Directors,
Wal-Mart Stores, Inc.
12 Wal-Mart 2009 Annual Report