Former Wal-Mart CEO to Join Carlyle Group

Apr 16 2015 | 1:02am ET

Former Wal-Mart Stores CEO Mike Duke is joining Carlyle Group as an operating executive, the latest high-profile hiring by the private equity giant. 

Early last year, Duke retired from Wal-Mart after five years as the global retailer’s top executive. According to reports, Duke will work directly with company dealmakers in Washington D.C. that seeks and vets deals in retail and consumer product firms. 

By working in a role similar to one as a paid consultant, Duke will still be able to remain on the board of Wal-Mart. During his tenure at Wal-Mart, the company expanded significantly, adding 6,200 stores around the world. The company’s share price appreciated by 58%.

Prior to assuming the role of CEO in 2009, Duke was the company’s vice chairman and led Wal-Mart International for four years. He joined Wal-Mart in 1995. He also spent more than two decades with Federated Department Stores and May Department Stores.

Carlyle Group currently has roughly 25 operating executives, each of whom have an extensive background at the corporate level.  The consumer and retail group has invested roughly $12 billion in recent years in companies like Dunkin' Brands Group, Moncler SpA, and Beats Electronics.

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