Former Wal-Mart CEO Mike Duke joins Carlyle Group as consumer and retail adviser

Industries Associated Press

Mike Duke, the former CEO of Wal-Mart Stores Inc., has joined the global consumer and retail group of private equity firm The Carlyle Group.

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Duke, who stepped down from the helm of the world's largest retailer in February 2014, joins a group of more than 25 senior business executives who provide strategic guidance to Carlyle to help it buy and invest in companies, the Washington, D.C.-based firm said Thursday.

Duke began his duties in mid-April.

Since its inception, Carlyle has invested about $12 billion of equity in 70 transactions in the consumer and retail arena, including Dunkin' Brands, Philosophy, and Beats headphones.

Duke joined Wal-Mart in 1995 as senior vice president of distribution and had a number of roles in the company. Before assuming the top job, he was vice chairman, overseeing the company's international business, a job he held from 2005 to 2009. He served as president and CEO from 2009 to 2014 and still serves on Wal-Mart's board.

The Carlyle Group had $194 billion of assets under management across 128 funds and 142 fund of fund vehicles as of Dec. 31, 2014.