Walmart’s CEO Ranks in Top 5 CEOs that Should be Fired

Posted on May 15, 2012 by jway

Forbes recently published a Top 5 CEOs that Should Have Already Been Fired list. The CEOs that topped the list were not guilty of just one blunder, but were considered for the long-term damage they have done. Unsurprisingly, Walmart’s CEO Mike Duke made the cut at a respectable #3.

These 5, frequently honored for their position, control of resources and personal wealth, are doing horrific damage to their companies, hurting investors, employees, suppliers and the communities that rely on their organizations. They should have been fired long before this week.

Mike Duke most recently came under fire for his questionable handling (or should we say possible cover up?) of the alleged bribery scandal in Mexico. Recently, an employee-led petition garnered over 15,000 signatures calling for his resignation in light of the scandal.

We now know Mr. Duke’s business unit saw no problems with bribing foreign officials to grow its business. Just on the basis of knowing about illegal activity, not doing anything about it (and probably condoning and recommending more,) and then trying to change U.S. law to diminish the legal repercussions, Mr. Duke should have long ago been fired.

The article, however, points to a questionable business strategy as grounds for firing Duke long before the scandal was reported.

Unfortunately, WalMart peaked at about $70 in 2000, and has been flat ever since. Investors have gained nothing from this strategy, while employees often work for wages that leave them on the poverty line and without benefits. Scandals across all management layers are embarrassing. Communities find Walmart a mixed bag, initially lowering prices on some goods, but inevitably gutting the local retailers and leaving the community with no local market suppliers. WalMart needs an entirely new strategy to remain viable – and that will not come from Mr. Duke. He should have been gone long before the recent scandal, and surely now.

With a resume like Duke’s, it makes you wonder what a CEO’s got to do to land the #1 slot.

*All indented quotes above are from the Forbes article Oops! Five CEOs Who Should Have Already Been Fired (Cisco, GE, WalMart, Sears, Microsoft)

Comments

  • Anonymous

    let Change Walmart into United Food and commercial Workers Unionize Walmart Store for all Walmart Cashier Workers and for all Walmart Pharmacy Workers and for all Walmart Produce Workers and for all Walmart Deli Department Workers and for all Walmart Bakery Department Workers, let Change Walmart into Teamster Unionize Walmart Store for all Walmart and all Sam’s Club Truck Drivers Workers and for all Walmart Hardware Department Workers and for all Walmart Gardening Department  Workers and for all Walmart Stock Person Workers and for all Walmart Customer Service Desk Workers and for all Sam’s Club Courtesy Association Workers and for all Walmart Maintenance Association Workers and for all Sam’s Club Forklift Driver@Stock Person Workers and for all Sam’s Club Maintenance Workers and for all Sam’s Club Cashier Workers and for all Sam’s Club Pharmacy Workers and for all Sam’s Club Meat Cutter@Meat Wrapper Workers and for all Sam’s Club Produce Workers and for all Sam’s Club Cafe Workers and for all Sam’s Club Bakery Department Workers and for all Sam’s Club Membership Desk Workers and for all Sam’s Club Cart Attendant Workers, let Change Walmart into Communication Workers of America Unionize Walmart Store for all Walmart and all Sam’s Club Electronics Workers, let Change Walmart into United Auto Workers Unionize Walmart Store for all Walmart Tire@Lube Express Workers and for all Sam’s Club Tire @Vehicle Battery Installment Workers by make Walmart give all Walmart and all Sam’s Club Workers a Living Wage With Affordable Healthcare right of away and right now please without close down all the Walmart and all Sam’s Wholesale Club, 

    Thank You Very Much United Food And Commercial Workers And Teamster Union And OUR Walmart For Trying Make Walmart A Better Place To Work For All Walmart And All Sam’s Club Workers,

                                           From Tom P Noonan                                                                                                                                                                                                                                                                                                                                                                                    

  • Anonymous

    Labor is the superior of capital and deserves much higher consideration.   Abraham Lincoln

    • Anonymous

       Didn’t he start the Republican Party?

      • Anonymous

        Yes he did and if he was alive and could see what the Republican party has become he would probably shoot himself! (pun intended)

      • Anonymous

        He would be thrilled to see that they were poised to take over the Senate and the Presidency. He loved a winner. The would also love the 7 point lead in the wasteful recall election we have in the WI polls. 40 MILLION dollars of members money down the drain and the recall cheating exposed (1 million signatures and 600,000 votes).

      • Anonymous

        Maybe Walmart could even talk Lincoln into taking a bribe!

      • Anonymous

        Still trying to sell the notion that bribing an official in Mexico is not a requitement to do business in Mexico. Not nearly as bad as an union official taking a bribe to  get a worse contract for his members. At least he went to the slammer.

      • Anonymous

         South Carolina union president makes fool of self attacking minority women governor. More union thugery.

        http://www.youtube.com/watch?v=3DZq2jOscBU&feature=player_embedded