The paychecks are big atop the world’s largest retailer.
Doug McMillon, president and chief executive officer of Walmart Inc., saw his pay rise 3.6 percent to $23.6 million last year, according to a filing with the Securities and Exchange Commission. In 2017, the ceo was the second highest-paid executive in retail, fashion and beauty behind Ralph Lauren Corp.’s Patrice Louvet, according to a WWD tally.
McMillon’s take included a salary of $1.3 million, incentive pay of $5.1 million and stock awards valued at $15.6 million, although his actual payout from stock compensation will depend on market fluctuations and vesting schedules.
Also logging eight-figure compensation packages at the company last year were Greg Foran, president and ceo of Walmart U.S., $13.5 million, and Judith McKenna, president and ceo of Walmart International, $12.9 million.
The pay for Walmart’s top executives is always controversial given the size of the compensation packages — which tend to be large in keeping with the size of the company overall — and continuing pressures on the massive retailer to up its pay for average workers.
Walmart’s starting pay for hourly associates has been moving up in recent years, but it’s still $11 an hour (although most of its warehouse associates have been making more than $15 for some time).