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A Conversation with Lee Scott
H. Lee Scott
Former President and CEO of Walmart; Chairman of the Executive Committee of the Board of Directors at Walmart
- Increased profits by 249% as CEO of Walmart and expanded sales to 16 countries
- Currently a senior advisor of Solamere Capital and the chairman of the business advisory board for BDT Capital
- Addresses topics such as leadership, corporate culture, innovation, supply chain management, and social responsibility
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Lee Scott served as Walmart’s president and CEO from 2000 to 2009, the company’s third, following Sam Walton and David Glass. He is widely credited with reinvigorating Walmart’s mission and transforming it into a respected corporate leader on many of the major issues facing today’s increasingly complex world. During his tenure, the company emerged as the world’s largest retailer with more than 2.1 million associates and 7,390 retail operations in 16 markets around the world. The company earned the Fortune No. 1 spot six times between 1998 and 2008 and had sales of more than $405 billion in 2009. Exclusively represented by Leading Authorities speakers bureau, Scott addresses leadership, corporate culture, global business, innovation, supply chain management, sustainability, and social responsibility.
A Walmart Career. Scott joined Walmart in 1979 as an assistant director of the private truck fleet in the logistics division, rising through the ranks to executive vice president of logistics in 1993 and executive vice president of merchandise in 1995. He became president and chief executive officer of the Walmart US division in 1998, chief operating officer and vice chairman for the corporation in 1999, and president and chief executive officer in 2000.
During Lee’s time as president and CEO, he oversaw a 243% percent increase in Walmart’s global sales, from $165 billion to $401 billion, and a 277% percent increase in earnings, from $1.21 per share to $3.35 per share. He expanded Walmart’s operations from 10 to 16 countries, including India, Japan, and Chile. Profits also rose 249% percent to over $13 billion. During his last year as CEO, Walmart was the best performing stock in the Dow Jones Industrial Average.
Maintaining Walmart’s Values. Building on the foundation of values Sam Walton put in place, Scott made people a priority. Under his leadership, Walmart assembled a strong team of leaders who transformed the business to thrive in a more complex global environment while keeping the company’s mission of “saving people money so they can live better” relevant to a changing world.
Walmart is now recognized as a vital part of the solution to the most pressing economic and social challenges, like healthcare costs, employee benefits, and social and environmental responsibility. Walmart emerged as a leader in sustainable practices, leveraging its global reach in the key areas of renewable energy, energy efficiency, waste, and sustainability. The company also worked to bring healthcare costs down with its$4 generic prescription program and set aggressive goals to work with suppliers in building a more responsible global supply chain. Today, 93% of Walmart’s direct sourcing merchandize is produced in top-rated factories.
Before & After Walmart. Scott now serves on the board of the Cleveland Clinic in Cleveland, Ohio. He’s also Executive Partner of Solamere Capital in Lexington, Massachusetts. He received the Horatio Alger Award in 2018 for his lifelong commitment to education and economic opportunity for America’s youth.
A native of Baxter Springs, Kansas, Scott received his Bachelor of Science degree in business from Pittsburg State in Pittsburg, Kansas, and in 1995, he was named an Outstanding Alumni by the university. He has also completed the executive development programs at Penn State University and Columbia University.
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A Conversation With Lee Scott. Lee Scott was the president and CEO of Walmart from 2000 until 2009, after having risen through the ranks after more than twenty years at the company. During his tenure, the company emerged as the world’s largest retailer with more than 2.1 million associates and 7,390 retail operations in 16 markets around the world. The company earned the Fortune No. 1 spot six times between 1998 and 2008 and had sales of more than $405 billion in 2009. In this one-of-a-kind presentation, Lee Scott shares insight into his leadership of Walmart and illustrates how businesses will need to adapt to the future. Scott focuses on leadership, corporate culture, global business, innovation, supply chain management, and sustainability and allows for an extensive Q&A session with the audience. His presentations are particularly engaging with a moderator in an interview format.
Creating The Right Corporate Culture. Building on the foundation of values Sam Walton put in place, Lee Scott made people a priority, creating an environment where diversity, innovation, and excellence could flourish. Under his leadership, Walmart assembled a strong team of leaders who transformed the business to thrive in a more complex global environment while keeping the company’s mission of “saving people money so they can live better” relevant to a changing world. In this presentation, Scott addresses how to create the appropriate corporate culture to achieve your organization’s goals and how to leverage your human capital.
Social Responsibility From A Corporate Perspective. Walmart is now recognized as a vital part of the solution to the most pressing economic and social challenges. In response to the health care crisis in the US, the Walmart team introduced $4 generic prescription drugs and in-store health clinics. They also partnered with other employers and opinion leaders to call for major health care reform. The company also expanded its benefits and bonus program for associates. In the area of social and environmental responsibility, Walmart has emerged as a leader in sustainable practices, leveraging Walmart’s global reach in three key areas: renewable energy, zero waste and sustainable products. The company has also set aggressive goals to work with suppliers in building a more responsible global supply chain. In this presentation, Lee Scott addresses why it is important for corporations to take social issues into account and how it can be done effectively.
