Wal-Mart's Doug McMillon on Checking Out the Competition in China

(Beijing) – Doug McMillon became president and CEO of Wal-Mart Stores Inc. in February. Every inch a "son of Wal-Mart," his origins with the company go back 30 years when he first had a summer job working in a distribution center.

When thinking of Wal-Mart, the company founded by retail legend Sam Walton in 1962, several superlatives come to mind. It is the largest chain store and private employer in the world, and is perched atop the Fortune 500. Wal-Mart entered China in 1996, and now has 401 branches all over the country, creating around 90,000 jobs.