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Walmart CEO Doug McMillon on CNBC. Photo: Adam Jeffery/CNBC via Getty Images

Walmart President and CEO Doug McMillon was named Thursday as the incoming chairman of the Business Roundtable, a CEO-only group that recently sparked a national conversation about the evolving role of corporations in society.

Why it matters: McMillon — born in Arkansas, where Walmart is headquartered, and with the company his whole career — brings a heartland face to business at a time when CEOs face rising political pressure from employees, social media and customers.

  • McMillon, 52, begins a two-year term on Jan. 1 and succeeds JPMorgan Chase Chairman and CEO Jamie Dimon, who has served three years as BRT chair.
  • Walmart, with 2.1 million employees around the world, is enmeshed in many of the policy issues facing the BRT — from trade and taxation to automation and health care.

McMillon was an early leader within Walmart on driving sustainability and led recent efforts to raise wages and increase workforce training.

  • He said in a statement: "In the coming months, there will be extensive conversations about America’s future and the role business plays in shaping it. ... I commit to keeping Business Roundtable CEOs at the forefront of constructive public policy debates."

Dimon said in an interview: "I think Walmart is the epitome of an inclusive-economy company."

  • Josh Bolten, the Business Roundtable's President and CEO, said: "Doug is the ideal person to pick up from Jamie in bringing the broader business community together on looking forward to how do we make sure that this economy works for every American."

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Go deeper

Dead malls get new life

Illustration: Aïda Amer/Axios

Malls are becoming ghosts of retail past. But the left-behind real estate is being reimagined for a post-pandemic world.

Why it matters: As many as 17% of malls in the U.S. "may no longer be viable as shopping centers and need to be redeveloped into other uses," per Barclays.

White House now says Biden will move to increase refugee cap by May 15

Photo: Chip Somodevilla/Getty Images

The White House on Friday afternoon said President Biden plans to lift the Trump-era refugee cap by May 15.

Driving the news: The announcement follows stinging criticism from several Democrats and rights groups, who said Biden was walking back on his pledge to raise the limit. Earlier Friday, Biden signed a directive to speed up the processing of refugees, but kept the Trump administration's historically low cap of 15,000 refugees for this year.

Updated 2 hours ago - Politics & Policy

Suspect in FedEx shooting identified as 19-year-old former employee Brandon Hole

Crime scene investigators walk through the FedEx parking lot in Indianapolis the day after a mass shooting left nine dead, including the gunman, who took his own life. Photo: Jeff Dean/AFP via Getty Images.

The suspected gunman who killed at least eight people and wounded several others in Indianapolis before killing himself has been identified by local police as 19-year-old Brandon Hole, a former FedEx employee, a company spokesperson told the AP.

The latest: At least 100 people were in the FedEx warehouse at the time of the shooting, authorities said Friday. Indianapolis Metropolitan Police Department Deputy Chief Craig McCartt told reporters that Hole worked at FedEx through 2020. He did not specify the circumstances of Hole’s departure.