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Business

Walmart CEO Doug McMillon's total compensation reached nearly $ 24 million last year




McMillon's salary was about $ 1.3 million, and he was eligible for share price based on $ 15.6 million. He is also eligible for about $ 6.7 million in incentives and other forms of compensation.

That's about 3.5% more than McMillons total compensation in the previous fiscal year. It's also 1,076 times more than what Walmart's median work did. Employees also increased: The median workers made almost $ 22,000 last year, an increase of 14.5%. That means that the relationship between McMillon's salary and the median Walmart worker was actually about 9% less than the previous year.

"We are a profit-making company linking our leading compensation program to the company's operating results and strategic priorities," Walmart spokesman Randy Hargrove said. He noted that 76% of McMillon's compensation is contingent on performance targets not yet met. McMillon has been CEO since 201[ads1]4.

The company's share fell about 10% over the past fiscal year. But Walmart's total sales increased by 3%, and digital sales ballooned 40%.
Walmart ( WMT ) is the nation's largest private sector employer and employed more than 2.2 million workers last year, including 1.5 million in the United States.
The company has increased its minimum wage and extended benefits in recent years.
Last year, Walmart increased his US start time wage to $ 11 an hour and paid nearly $ 800 million in hourly rate bonuses based on store performance. It has also added new child and parental leave policy. The company says that the average hours of total compensation and benefits come out at more than $ 17.50 per hour.

Walmart's turnover rates were reduced last year and the year before as a result of their measures.

"At Walmart, it's all about moving people beyond the level of jobs by giving employees clearer career paths, skill-based training and more control over their schedule," says Hargrove. "Walmart has represented a ladder of opportunity since we started business and we want to make sure that is the case ahead. "

  Jeff Bezos wants Amazon to fail more 

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Many companies recently had to release the executive payroll for the second time. The move was mandated under a provision in the Dodd-Frank economic reforms undertaken during the Obama administration. The salary difference in retail between the CEO and the media assistant last year, according to data from MyLogIQ, CEO Art Peck earned 3,566 times as much as the dealer's median association Peck made $ 2 0.7 million Ross Stores ( ROST ) CEO Barbara Rentler made 1,222 more than the company's median work.

– CNN Business & # 39; Julia Horowitz contributed to this report. 19659020]



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