INSTANT VIEW: Wal-Mart names Mike Duke to succeed Scott as CEO

NEW YORK (Reuters) - Leading retailer Wal-Mart Stores Inc said on Friday that Lee Scott will step down after nine years as chief executive and be replaced by Mike Duke, head of the company's international operations.

Scott will remain as chairman of the executive committee of the board and will continue to be employed until 2011.

The following are market reactions on the change at the top of the largest retailer.

COMMENTS:

JOSEPH FELDMAN, RETAIL ANALYST WITH TELSEY ADVISORY GROUP IN NEW YORK

"I think it's good. I'm happy to see it. My guess would be that they're setting up Eduardo to be the next CEO, given that they made him vice chairman.

"It's a little strange that (Scott) didn't want to get through the holiday season, so I want to ask the company about that. I don't think it's a sign that they're going to have a lousy season."

BURT FLICKINGER III, MANAGING DIRECTOR, STRATEGIC RESEARCH GROUP

"This is a huge shock, particularly given this is Lee Scott's most successful year. The stock has been the superstar of the Dow this year, but Wal-Mart stock is still down 25 to 30 percent during this decade.

"Wal-Mart conquered the countryside, but Lee Scott was not able to conquer the cities so there were embarrassing losses of supercenters not being approved in Los Angeles, Chicago, New York and Newark."

"Duke is the best qualified person to run the company and would be one of the very best people to run any retailer worldwide."

FRED DICKSON, MARKET STRATEGIST, DIRECTOR OF RETAIL RESEARCH, D.A. DAVIDSON & CO

"It shouldn't be a surprise. It wasn't under negative circumstances, this is a normal transition. Wal-Mart probably won't have any impact at all on the market."

THOMAS NYHEIM, VP AND PORTFOLIO MANAGER AT CHRISTIANA BANK & TRUST CO IN GREENVILLE, DELAWARE

"I think it's a nonevent. Wal-Mart is pushing well over $400 billion in sales. Their business model is probably the only one that's working.

"All the retailers are guiding lower after missing earnings. The business model is still very much intact."

TERRY MORRIS, SENIOR VP AND SENIOR EQUITY MANAGER AT NATIONAL PENN INVESTORS TRUST COMPANY IN READING PENNSYLVANIA

"In a business environment where things are in your favor, it does seem odd that someone is stepping down and being replaced."

(Reporting by Nicole Maestri, Deepa Seetharaman, Sarah Coffey and Ryan Vlastelica)