Michael Fung served as Senior Vice President and Chief Financial Officer at Walmart U.S., a multinational retailer, from 2006 until his retirement in February 2012, as Senior Vice President, Internal Audit Services from 2003 to 2006, and as Vice President, Finance and Administration of Global Procurement from 2001 to 2003.
Michael grew up in Chicago in a working-class environment. His parents immigrated to the United States looking for a better life and opportunity. Michael’s father worked as a waiter in a restaurant his entire life and his mother worked as a seamstress in a shoe factory. Michael and his two older brothers were “latchkey children” since his parents needed to work in order to support the family. Michael did not see his parents often but did learn the value of education, hard work, respect and the meaning of honoring one’s family.
Michael worked throughout his formulate years and was able to pay for his own books and tuition at the University of Illinois. He was the first member of his family to attend college. Michael learned humility throughout his upbringing and how difficult life was for working class individuals. Michael’s multiple part time jobs included being a dishwasher, waiter, bus boy and janitor.
Michael also loaded and unloaded trucks for Sears Roebuck throughout his college years, which introduced him to retail.
Between his junior and senior year at the University, Michael joined the Illinois National Guard and received training as a Military Policeman. After completing basic and advanced infantry training, Michael returned to his unit in Chicago. In one of Michael’s key career moments, he decided to enter Officer School and complete training in order to be commissioned as a 2nd lieutenant in the U.S. Army. Michael thought he could achieve more from his career in the military and get more accomplished for his team if he was in a leadership position. Michael learned in basic training and Officer School the meaning of servant leadership.
After graduation, Michael started in public accounting with Deloitte Touche. After several years, Michael joined Beatrice Foods, which was one of the world’s largest diversified food companies.
He was promoted rapidly and became their youngest corporate officer in their history. He also received Beatrice’s President Honor Club, Beatrice’s highest honor to an individual. Michael decided to go back to school and earned his MBA at the University of Chicago by going to class in the evenings, weekends and summers while working full time. Going back to school was difficult but paved the way for further success as Michael was able to leverage his experience and apply his education in various
industries. Michael served as the Chief Financial Officer at Bass Pro Shops, Vanstar Corporation and Sensient Technologies. In each of these companies, Michael sought challenges and opportunities where he could continue to learn and make a difference.
Wal-Mart recruited Michael eight years ago to help establish its Global Procurement operation in China.
Global Procurement was a start up and Michael was instrumental in developing and implementing Wal-Mart’s sourcing strategies around the world. Instead of saving $30 Million in operating expenses in Global Procurement’s first year of operation, the results reflected a savings of $1.2 Billion. The results reflect Michael’s dedication and resourcefulness in exceeding expectations throughout his career. Michael is currently the CFO of Wal-Mart U.S. In his current role, he is responsible for U.S. finance operations including merchandising, logistics, real estate, operations, professional services, global procurement, strategy, financial planning and analysis.
Michael’s career also reflects a commitment to his community over the years. Michael formerly served on the Board at the Shedd Aquarium, Chicago, Illinois and on the Business Advisory Council to the College of Business at the University of Illinois.
He currently serves as the Vice Chairman of the Board at the Asian Pacific Islander American Scholarship Fund, a member of the Committee of 100 and is a member of the University of Illinois Foundation. Michael is an executive sponsor for Wal-Mart’s Asian Pacific Islander Associate Resource Group and Northwest Arkansas’ OCA chapter. Michael’s charitable efforts increase his understanding of his heritage and the sacrifices made by his parents to enable their children to have a better life.