Mills Fleet Farm Names Former Wal-Mart Exec as CEO

The new owner of Mills Fleet Farm has named a former Wal-Mart executive as CEO of the outdoors-goods retailer. The new Mills CEO, Duncan Mac Naughton, was chief merchandising and marketing officer at Wal-Mart until November 2014, when he left in a top-management shuffle after five years with the national discounter. Family-owned Mills Fleet Farm announced in January that it had agreed to sell to New York-based KKR, one of the country's largest investment concerns, in a private transaction that industry sources have speculated is worth around $1.2 billion.