Global alternative asset manager The Carlyle Group has announced that Mike Duke, former President and CEO of Wal-Mart Stores, has joined the firm as an Operating Executive in the Global Consumer & Retail group.

Duke joins Carlyle from Wal-Mart Stores, where he served as President and CEO from 2009 to 2014.

From 2005 to 2009, he served as Vice Chairman with responsibility for Walmart International; previously, he led the logistics, distribution and administration divisions, as well as Walmart US.

He continues to serve as a member of the Wal-Mart Board of Directors.

Previously, he served on the Board of Advisers for the University of Arkansas and the Advisory Board of the Tsinghua University School of Economics and Management in Beijing.

He is also a member of the National Academy of Engineering.

Commenting on his appointment, Duke said: “I am excited to partner with Sandra and her team and look forward to leveraging my experiences as an operator to build on Carlyle’s impressive Consumer & Retail investment track record.”

In his new role, Duke will provide strategic guidance to Carlyle professionals throughout the investment process and will advise portfolio company executives on management, operational, branding and growth strategies.

He joins a group of more than 25 senior business executives.

Sandra Horbach, Carlyle Managing Director and Head of the Global Consumer & Retail group, said: “We are thrilled to welcome Mike to the Carlyle team following more than 40 years in the retail industry, including 20 years in increasingly senior roles at Wal-Mart. Mike will be an invaluable addition to our team, helping drive value creation within our existing portfolio and adding a new dimension as we research new investments.”

Since inception, Carlyle has invested approximately $12bn of equity in 70 transactions in the consumer and retail space.