In August, The University of Tulsa was honored to welcome back one of its most well-known alumni: Doug McMillon (M.B.A. ’91), president and chief executive officer of Walmart. McMillon sat down with UTulsa President Brad Carson for a conversation before a standing-room-only audience of students who posed thoughtful – and sometimes provocative – questions.
The hour-long discussion ranged from McMillon’s time attending UTulsa’s Collins College of Business on a scholarship to the successes and challenges he has faced during his 40 years with Walmart, which consistently ranks No. 1 on the Fortune 500 list because of its willingness to listen, learn, and evolve.
McMillon began working for Walmart in a distribution center 1984 as an hourly associate, picking store orders and unloading trailers from their suppliers. Over the decades, he worked in a variety of roles, including becoming a buyer for fishing tackle weeks after graduating from UTulsa. He rose through the ranks working in all three segments of the company. He was the chief merchant for Sam’s Club US before being named president and CEO of Sam’s Club in 2005. In 2009, he became CEO of Walmart International and, in 2014, was named CEO of Walmart Inc.
“This job has been so extraordinary. My previous job was, too, but this role is so extraordinary in terms of the things that you end up getting involved in,” McMillon said. “It’s a lot of variety and it’s a blast.”
In 2024, the global retailer is grappling with very different issues than the company Sam Walton founded more than 60 years ago. Technology is a world away from that first store in Rogers, Arkansas.
McMillon said Walmart will continue to be led by capable, smart people who understand how to utilize technology, such as generative AI (artificial intelligence) and robotics, in a responsible way. “We’re doing some really cool stuff with physical automation in our distribution centers,” he said. “We want to use technology, the best technology … And so far, we’re learning how to do that in a really productive way. Our tech capabilities are dramatically better than they were before, so we have to keep changing.”
McMillon sees his role as that of problem-solver and surrounds himself with the right team.
“We say at Walmart, ‘You can’t run it. It’s too big to run, but you can lead it,’” he told the students. “The No. 1 responsibility I have is focusing on working with great people. Who you spend your time with and who you surround yourself with will have a lot to do with your degree of success. When I’ve got the wrong person in the wrong job, everybody suffers. Get the team right, and your job gets a whole lot easier.”
McMillon traces this back to his years at UTulsa, where he said he learned to get out of his silo and realized that there were valuable connections to be made in departments across campus. He also shared another important lesson he learned while in Tulsa: “You have to be more thoughtful about what your life plan is. Especially in these types of jobs, you have to be disciplined. But you’ve also got to find a lifestyle that gives you energy and that you’re happy with, that you love.”
When asked what has been most influential in his career, McMillon says it’s been his all-in mentality. “Go into a job thinking, ‘I’m going to do the best I can with the job I’ve got today, and I’m not going to think about the next job. I’m going to think about this job. I’m not just going to maintain it; I’m going to go for it. I’m going to take some risks, and I’m going to try to make things better.’”
McMillon emphasized that character, integrity, and hard work are what he looks for in new hires. He also pointed to teamwork, servant leadership, and diversity as critical to running a successful company and maintaining a positive culture.
Cecil Wall, an incoming first-year student in UTulsa’s College of Engineering & Computer Science, attended the event and was one of several selected to pose a question to the famous alumnus. “The Q&A was such an exciting opportunity,” he said. “As an aspiring entrepreneur, I was enamored with the quality of Doug McMillon’s advice and character. The event was beautiful, accessible, and the moments I got to speak with Mr. McMillon after the presentation were a delight and a privilege. I am so glad my class and I were invited to this event, and I cannot wait to see what amazing things TU does next.”