Lee Scott

Lee Scott

Chairman, BDT Capital;
Former CEO, Walmart

Leading in a Complex World

Lee Scott is chairman of the Business Advisory Board for BDT Capital. Previously, he served as Walmart's President and CEO from 2000 to 2009. Lee 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.

In 1979, Lee Scott joined Walmart as an assistant director of the private truck fleet. He quickly rose through the ranks of Logistics to become the division's executive vice president in 1993. Two years later, he transitioned to Merchandise as that division's executive vice president. In 1998, Lee was promoted to president and CEO of Walmart U.S. One year later, he was named chief operating officer and vice chairman of Walmart.

During Lee's more than nine years as president and CEO of Walmart, 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 to 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.

Midway through Lee's tenure as CEO, Walmart began to face mounting pressure from critics and well- funded union groups. With the help of the board of directors, Lee began to address the challenges facing the company's reputation by emphasizing the "Live Better" part of Walmart's mission.

Over the next several years, Walmart stepped out on a number of major issues facing the U.S. and the world. In response to soaring health care costs in the U.S., Walmart launched its $4 generic prescription drug program. To date, the initiative has saved customers over $2 billion. Perhaps most notably, Lee set a number of ambitious sustainability goals for Walmart. He committed to doubling the company's truck fleet efficiency by 2015. Today, Walmart has already achieved a 60 percent increase in fleet efficiency. Lee also convened Walmart's first Sustainability Summit in Beijing, China to launch an unprecedented plan for a more socially and environmentally responsible supply chain. Today, 93 percent of Walmart's direct sourcing merchandize is produced in top-rated factories.

In addition to chairing the Business Advisory Board for BDT Capital in Chicago, Illinois, Lee serves on the boards of Wal-Mart Stores, Inc. in Bentonville, Arkansas, Pilot Travel Centers in Knoxville, Tennessee and Fluidic Energy in Scottsdale, Arizona. He's also an operating partner and member of the investment committee of Solamere Capital in Lexington, Massachusetts.

Lee is a native of Baxter Springs, Kansas. He received his bachelors of science degree in business from Pittsburg State University in Pittsburg, Kansas. In 1995, the University named him an outstanding alumnus. Lee has also completed executive development programs at Penn State University and Columbia University.

Lee and his wife, Linda, currently live in Sarasota, Florida.