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Lee Scott becomes the third CEO of Wal-Mart. He joined the retailer in 1979 as an assistant director in the logistics division, rising through the ranks to head up logistics and later merchandising. Scott's tenure is initially marred by disappointing results and controversy, but beginning in 2007 he turns the company around by refocusing on its low-price mantra just in time to benefit from shoppers trading down during the recession. He also shapes his legacy by overcoming his initial reluctance to engage Wal-Mart's many detractors.