Latest / Omni Talk Retail / Former Walmart International CEO Judith McKenna on Frontline Retail, Boards, and AI’s Next Chapter | WRC 2026

Transcript

Former Walmart International CEO Judith McKenna on Frontline Retail, Boards, and AI’s Next Chapter | WRC 2026 · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:01
  This
• 0:01
  is
• 0:01
  omnitalk
• 0:02
  Retail.
• 0:02
  I
• 0:03
  am
• 0:03
  Chris
• 0:03
  Walton,
• 0:03
  and
• 0:03
  I
• 0:04
  am
• 0:04
  coming
• 0:04
  to
• 0:04
  you
• 0:04
  live
• 0:04
  from
• 0:05
  the
• 0:05
  World
• 0:05
  Retail
• 0:06
  Congress
• 0:06
  in
• 0:06
  Berlin
• 0:07
  from
• 0:08
  the
• 0:08
  Vuzion
• 0:08
  podcast
• 0:09
  studio.
• 0:10
  Now,
• 0:10
  joining
• 0:10
  me.
• 0:11
  Oh,
• 0:11
  my
• 0:11
  gosh.
• 0:12
  Omnitalk
• 0:12
  fans,
• 0:13
  this
• 0:13
  is
• 0:13
  someone
• 0:13
  that
• 0:13
  I've
• 0:13
  been
• 0:14
  working
• 0:14
  three
• 0:14
  years
• 0:15
  to
• 0:15
  get,
• 0:15
  and
• 0:15
  I
• 0:15
  feel
• 0:16
  like
• 0:16
  she
• 0:16
  finally
• 0:16
  said
• 0:17
  yes
• 0:17
  to
• 0:17
  the
• 0:17
  prom.
• 0:18
  And
• 0:18
  I
• 0:18
  am
• 0:18
  Talking
• 0:19
  about
• 0:19
  Judith
• 0:19
  McKenna,
• 0:20
  the
• 0:20
  former
• 0:20
  Walmart
• 0:21
  International
• 0:21
  CEO
• 0:22
  and
• 0:22
  now
• 0:23
  board
• 0:23
  member
• 0:23
  at
• 0:23
  Unilever
• 0:24
  and
• 0:24
  Delta.
• 0:25
  Judith,
• 0:26
  how
• 0:26
  are
• 0:26
  you?
• 0:26
  It's
• 0:27
  so
• 0:27
  great
• 0:27
  to
• 0:27
  see
• 0:27
  you.
• 0:27
  I
• 0:28
  am
• 0:28
  really
• 0:28
  well,
• 0:28
  and
• 0:29
  I'm
• 0:29
  glad
• 0:29
  we
• 0:29
  finally
• 0:29
  got
• 0:30
  to
• 0:30
  do
• 0:30
  this.
• 0:31
  The
• 0:31
  stars
• 0:31
  alive.
• 0:32
  I
• 0:32
  know,
• 0:33
  I
• 0:33
  know.
• 0:33
  It's
• 0:33
  funny.
• 0:33
  I
• 0:34
  was
• 0:34
  funny.
• 0:34
  I
• 0:34
  was
• 0:34
  like.
• 0:34
  I
• 0:34
  was
• 0:34
  like,
• 0:35
  I
• 0:35
  know
• 0:35
  I
• 0:35
  ask
• 0:35
  every
• 0:36
  year,
• 0:36
  but
• 0:36
  can
• 0:36
  you
• 0:36
  do
• 0:37
  it?
• 0:37
  And
• 0:37
  you're
• 0:37
  like,
• 0:37
  yes.
• 0:37
  And
• 0:38
  I
• 0:38
  was
• 0:38
  like,
• 0:38
  fantastic,
• 0:39
  Fantastic.
• 0:39
  Anyway,
• 0:40
  it's
• 0:40
  great
• 0:40
  to
• 0:40
  see
• 0:40
  you
• 0:41
  at
• 0:41
  wrc.
• 0:41
  Yep.
• 0:43
  You've
• 0:43
  come
• 0:43
  here
• 0:43
  a
• 0:43
  lot.
• 0:43
  Like,
• 0:44
  what
• 0:44
  brings
• 0:44
  you
• 0:45
  back
• 0:45
  to
• 0:45
  this
• 0:45
  conference
• 0:45
  year
• 0:46
  over
• 0:46
  year
• 0:46
  over
• 0:46
  year?
• 0:46
  Yeah,
• 0:47
  I
• 0:47
  was
• 0:47
  just
• 0:47
  talking
• 0:47
  about
• 0:48
  this.
• 0:48
  There's
• 0:48
  an
• 0:48
  energy
• 0:49
  at
• 0:49
  this
• 0:49
  conference,
• 0:50
  and
• 0:50
  it
• 0:51
  is
• 0:51
  so
• 0:51
  diverse
• 0:52
  in
• 0:52
  the
• 0:52
  types
• 0:52
  of
• 0:53
  businesses
• 0:53
  that
• 0:53
  are
• 0:53
  here.
• 0:54
  I
• 0:54
  mean,
• 0:54
  it's
• 0:55
  truly
• 0:55
  global.
• 0:55
  I
• 0:55
  think
• 0:56
  I've
• 0:56
  met
• 0:56
  people
• 0:56
  from
• 0:56
  all
• 0:57
  over
• 0:57
  the
• 0:57
  world,
• 0:58
  every
• 0:58
  kind
• 0:58
  of
• 0:59
  business
• 0:59
  that
• 0:59
  you
• 0:59
  can
• 1:00
  imagine,
• 1:00
  big
• 1:00
  businesses
• 1:01
  and
• 1:01
  small
• 1:01
  businesses.
• 1:02
  And
• 1:02
  I
• 1:02
  think
• 1:02
  that's
• 1:03
  an
• 1:03
  environment,
• 1:03
  a
• 1:04
  where
• 1:04
  people
• 1:04
  can
• 1:04
  meet
• 1:04
  each
• 1:05
  other
• 1:05
  and
• 1:05
  have
• 1:06
  really
• 1:06
  meaningful
• 1:06
  conversations,
• 1:07
  because
• 1:07
  you
• 1:07
  can
• 1:07
  always
• 1:08
  find
• 1:08
  somebody
• 1:08
  like
• 1:08
  me
• 1:09
  with
• 1:09
  the
• 1:10
  same
• 1:10
  challenges
• 1:10
  that
• 1:10
  I've
• 1:11
  got.
• 1:12
  And
• 1:12
  you
• 1:13
  can
• 1:13
  also
• 1:13
  just
• 1:14
  meet
• 1:14
  completely
• 1:14
  different
• 1:15
  people
• 1:15
  that
• 1:15
  you
• 1:15
  would
• 1:15
  have
• 1:16
  no
• 1:16
  chance
• 1:16
  of
• 1:16
  meeting
• 1:17
  otherwise
• 1:18
  and
• 1:18
  hear
• 1:18
  from
• 1:19
  some
• 1:19
  amazing
• 1:19
  people
• 1:20
  on
• 1:20
  stage.
• 1:21
  Like
• 1:21
  today.
• 1:22
  Bracken.
• 1:22
  Today
• 1:23
  was
• 1:23
  fabulous.
• 1:23
  I
• 1:24
  keep
• 1:24
  hearing
• 1:24
  that.
• 1:24
  I
• 1:24
  didn't
• 1:25
  get
• 1:25
  a
• 1:25
  chance
• 1:25
  to
• 1:25
  see
• 1:25
  it
• 1:25
  because
• 1:25
  I
• 1:25
  was
• 1:25
  doing
• 1:26
  interviews,
• 1:26
  but
• 1:26
  I
• 1:26
  got
• 1:26
  to
• 1:27
  get
• 1:27
  a
• 1:27
  recap
• 1:27
  of
• 1:27
  that.
• 1:27
  You
• 1:28
  are
• 1:28
  going
• 1:28
  to
• 1:28
  have
• 1:28
  to
• 1:28
  do
• 1:28
  that.
• 1:28
  Oh,
• 1:29
  my
• 1:29
  God.
• 1:29
  Worth
• 1:29
  seeing.
• 1:29
  Yeah.
• 1:30
  And
• 1:30
  then
• 1:30
  you
• 1:30
  were
• 1:30
  also
• 1:30
  telling
• 1:31
  me
• 1:31
  before
• 1:31
  we
• 1:31
  started,
• 1:31
  there's
• 1:32
  actually
• 1:32
  some.
• 1:33
  The
• 1:33
  conference
• 1:33
  does
• 1:33
  a
• 1:34
  very
• 1:34
  good
• 1:35
  job
• 1:35
  of
• 1:35
  taking
• 1:36
  a
• 1:36
  mentoring
• 1:37
  approach
• 1:37
  for
• 1:37
  those
• 1:37
  that
• 1:37
  are
• 1:38
  up
• 1:38
  and
• 1:38
  coming
• 1:38
  in
• 1:38
  the
• 1:38
  industry.
• 1:39
  Can
• 1:39
  you
• 1:39
  talk
• 1:39
  about
• 1:39
  that
• 1:39
  as
• 1:39
  well?
• 1:40
  So
• 1:40
  there
• 1:40
  is
• 1:40
  a
• 1:40
  retail
• 1:41
  accelerator
• 1:42
  program,
• 1:42
  which
• 1:43
  is
• 1:43
  for
• 1:43
  folks
• 1:44
  that
• 1:44
  are
• 1:44
  coming
• 1:44
  through
• 1:45
  the
• 1:45
  industry.
• 1:45
  They've
• 1:46
  maybe
• 1:46
  not
• 1:46
  got
• 1:46
  to
• 1:46
  C
• 1:47
  suite
• 1:47
  yet.
• 1:48
  They're
• 1:48
  really
• 1:48
  thinking
• 1:48
  about
• 1:49
  their
• 1:49
  careers.
• 1:49
  It
• 1:49
  brings
• 1:50
  them
• 1:50
  together.
• 1:50
  Two
• 1:50
  brilliant
• 1:51
  things
• 1:51
  about
• 1:51
  it.
• 1:52
  One
• 1:52
  is
• 1:52
  they
• 1:53
  get
• 1:53
  to
• 1:53
  meet
• 1:53
  each
• 1:54
  other
• 1:54
  and
• 1:54
  they
• 1:55
  create
• 1:55
  a
• 1:55
  cohort.
• 1:56
  So
• 1:56
  many
• 1:56
  different
• 1:56
  businesses,
• 1:57
  I
• 1:57
  have
• 1:57
  to
• 1:57
  tell
• 1:57
  you,
• 1:58
  pure
• 1:58
  online
• 1:59
  businesses,
• 2:00
  physical
• 2:01
  businesses,
• 2:02
  global
• 2:02
  representatives.
• 2:03
  And
• 2:04
  then
• 2:04
  we
• 2:04
  do
• 2:04
  this
• 2:04
  thing,
• 2:05
  which
• 2:05
  is.
• 2:05
  They
• 2:05
  call
• 2:05
  it
• 2:06
  speed
• 2:06
  venturing.
• 2:07
  So
• 2:07
  10
• 2:07
  minutes
• 2:08
  per
• 2:08
  table.
• 2:08
  Okay.
• 2:09
  And
• 2:09
  everybody
• 2:10
  has
• 2:10
  a
• 2:10
  question
• 2:10
  as
• 2:11
  A
• 2:11
  mentor
• 2:11
  they
• 2:11
  need
• 2:11
  to
• 2:12
  answer.
• 2:12
  Mine
• 2:12
  was,
• 2:12
  how
• 2:13
  do
• 2:13
  you
• 2:13
  lead
• 2:13
  and
• 2:13
  develop
• 2:13
  global
• 2:14
  teams
• 2:14
  in
• 2:14
  an
• 2:14
  era
• 2:15
  of
• 2:15
  uncertainty?
• 2:15
  Uncertainty.
• 2:16
  Small
• 2:16
  question.
• 2:16
  Okay,
• 2:17
  yeah,
• 2:18
  you
• 2:18
  got
• 2:18
  10
• 2:18
  minutes
• 2:18
  to
• 2:19
  answer
• 2:19
  that.
• 2:19
  But
• 2:19
  we
• 2:19
  did
• 2:19
  that.
• 2:20
  And
• 2:20
  I
• 2:20
  learn
• 2:21
  as
• 2:21
  much
• 2:21
  from
• 2:21
  them
• 2:21
  and
• 2:22
  their
• 2:22
  questions
• 2:22
  as
• 2:22
  you
• 2:23
  do
• 2:23
  doing
• 2:23
  that.
• 2:23
  But
• 2:24
  it's
• 2:24
  a
• 2:24
  brilliant
• 2:24
  thing
• 2:24
  and
• 2:24
  it's
• 2:25
  one
• 2:25
  of
• 2:25
  the
• 2:25
  things
• 2:25
  that
• 2:25
  I
• 2:25
  think
• 2:26
  stands
• 2:26
  out
• 2:26
  from
• 2:27
  the
• 2:27
  world
• 2:27
  Retail
• 2:27
  Congress
• 2:28
  is.
• 2:28
  It's
• 2:29
  not
• 2:29
  just
• 2:29
  about
• 2:30
  now.
• 2:30
  It's
• 2:31
  about
• 2:31
  the
• 2:31
  people
• 2:31
  who
• 2:31
  are
• 2:32
  coming
• 2:32
  through
• 2:32
  as
• 2:32
  well.
• 2:32
  Right?
• 2:33
  Yeah,
• 2:33
  100%.
• 2:33
  Yeah.
• 2:34
  All
• 2:34
  right,
• 2:34
  so
• 2:34
  I
• 2:34
  want
• 2:34
  to
• 2:34
  talk
• 2:35
  to
• 2:35
  you
• 2:35
  about
• 2:35
  your
• 2:35
  panel.
• 2:35
  You
• 2:36
  spoke
• 2:36
  on
• 2:36
  a
• 2:36
  panel
• 2:36
  yesterday,
• 2:37
  Right?
• 2:37
  Am
• 2:37
  I
• 2:37
  right?
• 2:38
  And
• 2:38
  it
• 2:38
  was
• 2:38
  on
• 2:38
  elevating
• 2:39
  the
• 2:39
  frontline
• 2:39
  worker.
• 2:40
  Yeah.
• 2:40
  So
• 2:41
  what
• 2:41
  key
• 2:41
  messages
• 2:42
  did
• 2:42
  you
• 2:42
  share?
• 2:43
  That's
• 2:44
  my
• 2:44
  first
• 2:44
  question
• 2:44
  around
• 2:44
  your
• 2:45
  panel.
• 2:45
  What
• 2:45
  key
• 2:45
  messages
• 2:45
  did
• 2:46
  you
• 2:46
  share?
• 2:46
  Yeah.
• 2:47
  So
• 2:47
  there
• 2:48
  is
• 2:49
  something
• 2:49
  that
• 2:49
  is
• 2:50
  true
• 2:50
  in
• 2:50
  retail
• 2:51
  and
• 2:51
  lots
• 2:51
  of
• 2:51
  other
• 2:51
  businesses
• 2:52
  actually
• 2:52
  that
• 2:52
  are
• 2:52
  consumer
• 2:53
  facing,
• 2:54
  which
• 2:54
  is
• 2:55
  you
• 2:55
  should
• 2:56
  treat
• 2:56
  your
• 2:57
  employees,
• 2:57
  your
• 2:58
  customers,
• 2:58
  your
• 2:58
  colleagues,
• 2:59
  your
• 3:00
  colleagues
• 3:00
  and
• 3:00
  your
• 3:00
  associates
• 3:01
  the
• 3:01
  same
• 3:01
  way
• 3:02
  as
• 3:02
  you
• 3:02
  want
• 3:02
  them
• 3:02
  to
• 3:03
  treat
• 3:03
  your
• 3:04
  customer.
• 3:05
  So
• 3:05
  how
• 3:05
  you
• 3:05
  make
• 3:06
  people
• 3:06
  feel
• 3:07
  is
• 3:08
  just
• 3:08
  as
• 3:08
  important
• 3:09
  as
• 3:09
  any
• 3:09
  of
• 3:10
  the
• 3:10
  things
• 3:10
  that
• 3:10
  you
• 3:11
  do.
• 3:11
  There
• 3:12
  are
• 3:12
  hygiene
• 3:12
  factors
• 3:13
  around
• 3:13
  what
• 3:14
  you
• 3:14
  pay
• 3:14
  people,
• 3:15
  but
• 3:15
  actually
• 3:16
  how
• 3:16
  they
• 3:16
  feel
• 3:16
  about
• 3:17
  working
• 3:17
  for
• 3:18
  you,
• 3:18
  what
• 3:18
  you
• 3:19
  believe
• 3:19
  in
• 3:19
  as
• 3:19
  a
• 3:19
  company
• 3:20
  and
• 3:20
  how
• 3:20
  you
• 3:21
  treat
• 3:21
  them
• 3:21
  will
• 3:22
  have
• 3:22
  a
• 3:22
  multiplier
• 3:23
  effect
• 3:23
  on
• 3:23
  how
• 3:24
  they
• 3:24
  show
• 3:24
  up
• 3:24
  at
• 3:25
  the
• 3:25
  front
• 3:25
  line
• 3:25
  as
• 3:26
  well.
• 3:26
  So
• 3:26
  we
• 3:26
  talked
• 3:27
  about
• 3:27
  lots
• 3:27
  of
• 3:27
  things.
• 3:27
  We
• 3:28
  talked
• 3:28
  about
• 3:28
  having
• 3:28
  great
• 3:29
  store
• 3:29
  managers.
• 3:29
  We
• 3:30
  talked
• 3:30
  about
• 3:30
  training
• 3:31
  programs.
• 3:32
  We
• 3:32
  talked
• 3:32
  about
• 3:32
  how
• 3:32
  the
• 3:33
  job
• 3:33
  balance
• 3:33
  is
• 3:34
  changing
• 3:34
  because
• 3:34
  of
• 3:35
  technology
• 3:36
  taking
• 3:36
  away
• 3:36
  some
• 3:37
  of
• 3:37
  the
• 3:37
  really
• 3:37
  difficult
• 3:38
  stuff
• 3:38
  that
• 3:39
  people
• 3:39
  had
• 3:39
  to
• 3:39
  do,
• 3:39
  the
• 3:40
  repetitive
• 3:40
  tasks
• 3:41
  to
• 3:41
  free
• 3:42
  up,
• 3:42
  to
• 3:42
  serve
• 3:42
  and
• 3:43
  sell.
• 3:43
  But
• 3:44
  me,
• 3:44
  the
• 3:44
  key
• 3:44
  message
• 3:45
  is,
• 3:45
  how
• 3:45
  do
• 3:45
  your
• 3:46
  folks
• 3:46
  feel
• 3:46
  on
• 3:47
  the
• 3:47
  front
• 3:47
  line?
• 3:47
  Got
• 3:48
  it.
• 3:48
  And
• 3:48
  so,
• 3:48
  because
• 3:49
  this
• 3:49
  was
• 3:49
  the
• 3:49
  first
• 3:49
  time
• 3:49
  I
• 3:50
  was
• 3:50
  interviewing
• 3:50
  you,
• 3:50
  I
• 3:50
  wanted
• 3:51
  to
• 3:51
  ask
• 3:51
  you
• 3:51
  a
• 3:51
  two
• 3:51
  part
• 3:51
  question
• 3:52
  on
• 3:52
  this
• 3:52
  for
• 3:52
  your
• 3:52
  panel.
• 3:52
  And
• 3:53
  this
• 3:53
  is
• 3:53
  a
• 3:53
  question
• 3:53
  I've
• 3:53
  never
• 3:53
  asked
• 3:54
  anyone.
• 3:54
  Okay.
• 3:55
  Okay.
• 3:55
  So
• 3:55
  I'm
• 3:55
  curious,
• 3:56
  what
• 3:56
  did
• 3:56
  you
• 3:57
  learn
• 3:57
  from
• 3:57
  your
• 3:57
  fellow
• 3:58
  panelists?
• 3:59
  So
• 3:59
  it's
• 3:59
  a
• 3:59
  really
• 4:00
  great
• 4:00
  question,
• 4:00
  actually,
• 4:00
  because
• 4:01
  you
• 4:01
  learn
• 4:01
  as
• 4:01
  much
• 4:01
  as
• 4:02
  you
• 4:02
  listen
• 4:03
  to
• 4:03
  them.
• 4:03
  You
• 4:03
  do.
• 4:04
  So
• 4:04
  we
• 4:04
  had
• 4:04
  Andreas,
• 4:05
  who
• 4:06
  runs
• 4:06
  small.
• 4:06
  Supermarkets,
• 4:07
  interviewed
• 4:08
  him
• 4:08
  this
• 4:08
  morning.
• 4:08
  He's
• 4:09
  fantastic.
• 4:10
  He
• 4:10
  talked
• 4:11
  about
• 4:11
  the
• 4:11
  way
• 4:11
  they
• 4:12
  are
• 4:12
  changing
• 4:13
  even
• 4:13
  the
• 4:14
  names
• 4:14
  that
• 4:14
  they
• 4:15
  give
• 4:15
  to
• 4:15
  the
• 4:16
  folks
• 4:16
  in
• 4:16
  their
• 4:16
  stores.
• 4:17
  So
• 4:17
  they've
• 4:18
  gone
• 4:18
  from
• 4:18
  shelf
• 4:19
  stockers
• 4:20
  to
• 4:20
  customer
• 4:20
  assistance.
• 4:21
  Oh,
• 4:21
  wow.
• 4:22
  I
• 4:22
  thought
• 4:22
  that
• 4:22
  was.
• 4:22
  Yeah,
• 4:23
  that's
• 4:23
  brilliant
• 4:23
  though.
• 4:23
  Fantastic.
• 4:24
  But
• 4:24
  back
• 4:24
  to
• 4:25
  how
• 4:25
  do
• 4:25
  I
• 4:25
  feel?
• 4:25
  Yeah,
• 4:26
  wow.
• 4:26
  You've
• 4:27
  made
• 4:27
  me
• 4:27
  feel
• 4:28
  that
• 4:28
  I
• 4:28
  have
• 4:29
  a
• 4:29
  job
• 4:29
  that
• 4:29
  has
• 4:30
  true
• 4:30
  value
• 4:30
  in
• 4:31
  it,
• 4:31
  even
• 4:32
  just
• 4:32
  by
• 4:32
  changing
• 4:32
  the
• 4:32
  name
• 4:33
  of
• 4:33
  it.
• 4:33
  Yeah.
• 4:33
  And
• 4:34
  then
• 4:34
  David,
• 4:34
  who
• 4:35
  is
• 4:35
  a
• 4:35
  retail
• 4:35
  veteran,
• 4:36
  I
• 4:36
  mean,
• 4:36
  has
• 4:37
  been
• 4:37
  many
• 4:37
  businesses,
• 4:38
  has
• 4:38
  his
• 4:38
  own
• 4:38
  podcast.
• 4:39
  He
• 4:40
  was
• 4:40
  the
• 4:40
  one
• 4:40
  who
• 4:40
  was
• 4:41
  passionate
• 4:42
  about
• 4:42
  store
• 4:42
  managers
• 4:43
  being
• 4:43
  the
• 4:43
  linchpin
• 4:44
  to
• 4:44
  everything
• 4:44
  and
• 4:45
  how
• 4:45
  you
• 4:45
  kind
• 4:46
  of
• 4:46
  create
• 4:47
  a
• 4:47
  framework
• 4:47
  around
• 4:48
  store
• 4:48
  managers
• 4:49
  to
• 4:49
  help
• 4:49
  them
• 4:49
  be
• 4:50
  the
• 4:50
  best
• 4:50
  they
• 4:50
  can
• 4:50
  be
• 4:50
  every
• 4:51
  day.
• 4:51
  Sometimes
• 4:52
  the
• 4:52
  store
• 4:52
  managers
• 4:52
  are
• 4:52
  the
• 4:52
  forgotten
• 4:53
  heroes
• 4:53
  in
• 4:53
  this
• 4:54
  whole
• 4:54
  retail
• 4:54
  transformation
• 4:55
  conversation.
• 4:56
  It
• 4:56
  totally
• 4:56
  is.
• 4:56
  Do
• 4:57
  you
• 4:57
  not
• 4:57
  have
• 4:57
  a
• 4:57
  podcast
• 4:57
  yet?
• 4:58
  I'm
• 4:58
  surprised
• 4:59
  there's
• 4:59
  too
• 4:59
  many.
• 5:00
  Everyone's
• 5:00
  got
• 5:00
  one.
• 5:01
  Yours
• 5:01
  is
• 5:01
  so
• 5:01
  good.
• 5:02
  How
• 5:02
  could
• 5:02
  I
• 5:02
  possibly
• 5:02
  spend
• 5:03
  too
• 5:03
  much.
• 5:03
  Time
• 5:03
  listening
• 5:04
  to
• 5:04
  mine?
• 5:04
  Right.
• 5:04
  You
• 5:04
  would
• 5:05
  never
• 5:05
  have
• 5:05
  time
• 5:05
  to
• 5:05
  do
• 5:05
  your
• 5:05
  own.
• 5:06
  All
• 5:06
  right,
• 5:06
  all
• 5:06
  right,
• 5:07
  let's
• 5:07
  shift
• 5:07
  to
• 5:08
  the
• 5:08
  board.
• 5:09
  I've
• 5:09
  been
• 5:09
  very
• 5:09
  interested
• 5:09
  in
• 5:09
  talking
• 5:10
  to
• 5:10
  people
• 5:10
  about
• 5:10
  boards.
• 5:10
  I
• 5:11
  talked
• 5:11
  to
• 5:11
  Archie
• 5:11
  Norman
• 5:12
  about
• 5:12
  it
• 5:12
  last
• 5:13
  week
• 5:13
  from
• 5:13
  M
• 5:13
  and
• 5:13
  S.
• 5:14
  I
• 5:15
  know
• 5:15
  Archie
• 5:15
  well.
• 5:16
  I
• 5:16
  worked
• 5:17
  for
• 5:17
  him.
• 5:17
  I
• 5:17
  bet
• 5:17
  you
• 5:17
  did.
• 5:18
  Yes,
• 5:18
  you
• 5:18
  did.
• 5:18
  Yeah.
• 5:19
  He
• 5:19
  had
• 5:19
  some
• 5:19
  great
• 5:19
  things
• 5:19
  to
• 5:20
  say
• 5:20
  about
• 5:20
  how
• 5:20
  he
• 5:20
  runs
• 5:21
  a
• 5:21
  board.
• 5:21
  And
• 5:21
  so
• 5:22
  with
• 5:22
  you
• 5:22
  being
• 5:22
  on
• 5:22
  two
• 5:23
  boards,
• 5:23
  two
• 5:23
  very
• 5:23
  important
• 5:24
  boards,
• 5:24
  I
• 5:24
  wanted
• 5:25
  to
• 5:25
  get
• 5:25
  your
• 5:25
  insights
• 5:25
  on
• 5:25
  it
• 5:25
  too.
• 5:26
  So
• 5:26
  first,
• 5:26
  let's
• 5:26
  talk
• 5:27
  Unilever.
• 5:27
  So
• 5:27
  you're
• 5:27
  on
• 5:27
  the
• 5:28
  corporate
• 5:28
  responsibility
• 5:29
  committee.
• 5:29
  Yes.
• 5:30
  What
• 5:30
  is
• 5:30
  your
• 5:30
  advice
• 5:31
  for
• 5:31
  how
• 5:32
  one
• 5:32
  should
• 5:32
  approach
• 5:33
  a
• 5:33
  board
• 5:33
  role
• 5:34
  such
• 5:34
  as
• 5:34
  that?
• 5:35
  I
• 5:35
  think
• 5:36
  it's
• 5:36
  that,
• 5:37
  first
• 5:37
  of
• 5:37
  all,
• 5:38
  being
• 5:38
  a
• 5:39
  board
• 5:39
  member,
• 5:39
  once
• 5:39
  you've
• 5:40
  been
• 5:40
  an
• 5:40
  executive,
• 5:40
  being
• 5:41
  a
• 5:41
  board
• 5:41
  member,
• 5:42
  you
• 5:42
  have
• 5:42
  to
• 5:42
  have
• 5:42
  a
• 5:43
  completely
• 5:43
  different
• 5:43
  outlook
• 5:44
  to
• 5:44
  how
• 5:44
  you
• 5:44
  do
• 5:44
  this.
• 5:45
  You
• 5:45
  are
• 5:46
  there
• 5:46
  to
• 5:46
  help
• 5:46
  make
• 5:47
  sure
• 5:47
  the
• 5:47
  strategy
• 5:48
  is
• 5:48
  the
• 5:48
  right
• 5:48
  one
• 5:49
  for
• 5:49
  the
• 5:49
  folks
• 5:50
  in
• 5:50
  the
• 5:50
  organization
• 5:51
  and
• 5:51
  for
• 5:51
  the
• 5:52
  shareholders,
• 5:53
  and
• 5:53
  that
• 5:53
  the
• 5:53
  team
• 5:54
  are
• 5:54
  the
• 5:54
  right
• 5:54
  team
• 5:55
  with
• 5:55
  the
• 5:55
  right
• 5:56
  plan
• 5:56
  in
• 5:56
  place
• 5:56
  and
• 5:57
  the
• 5:57
  right
• 5:57
  resources
• 5:58
  to
• 5:58
  be
• 5:58
  able
• 5:58
  to
• 5:59
  do
• 5:59
  that.
• 5:59
  But
• 6:00
  you're
• 6:00
  there
• 6:00
  to
• 6:00
  ask
• 6:00
  good
• 6:01
  questions.
• 6:02
  Like
• 6:02
  that
• 6:02
  is
• 6:02
  really
• 6:03
  what
• 6:03
  your
• 6:03
  job
• 6:04
  is.
• 6:04
  And
• 6:04
  there's
• 6:04
  very
• 6:05
  rarely
• 6:05
  where
• 6:05
  you
• 6:05
  need
• 6:06
  to
• 6:06
  have
• 6:06
  a
• 6:06
  button
• 6:06
  that
• 6:06
  says
• 6:07
  timeout
• 6:08
  that
• 6:08
  should
• 6:08
  be.
• 6:09
  And
• 6:09
  the
• 6:09
  chair,
• 6:09
  which
• 6:10
  Archie
• 6:10
  is
• 6:10
  a
• 6:10
  chair,
• 6:11
  plays
• 6:11
  an
• 6:11
  incredibly
• 6:12
  important
• 6:12
  role
• 6:13
  in
• 6:14
  doing
• 6:14
  that.
• 6:15
  What
• 6:15
  I
• 6:15
  found,
• 6:15
  and
• 6:16
  it's
• 6:16
  a
• 6:16
  transition,
• 6:17
  by
• 6:17
  the
• 6:17
  way,
• 6:18
  to
• 6:18
  do
• 6:18
  that
• 6:18
  because
• 6:19
  you're
• 6:19
  so
• 6:19
  used
• 6:19
  to
• 6:19
  being
• 6:19
  hands
• 6:20
  on.
• 6:20
  So
• 6:20
  somebody
• 6:20
  gave
• 6:21
  me
• 6:21
  this
• 6:21
  great
• 6:21
  piece
• 6:21
  of
• 6:21
  advice
• 6:21
  once,
• 6:22
  which
• 6:22
  is
• 6:22
  nose
• 6:22
  in,
• 6:23
  hands
• 6:23
  out.
• 6:24
  Okay.
• 6:24
  Okay.
• 6:25
  That's
• 6:25
  interesting.
• 6:26
  Which
• 6:26
  is
• 6:26
  an
• 6:26
  interesting
• 6:26
  way
• 6:27
  for
• 6:27
  it.
• 6:27
  I'm
• 6:27
  not
• 6:27
  sure
• 6:27
  I
• 6:28
  just
• 6:28
  phrased
• 6:28
  it
• 6:28
  that
• 6:28
  way,
• 6:29
  but
• 6:29
  that's
• 6:29
  a
• 6:30
  good
• 6:30
  way
• 6:30
  to
• 6:30
  think
• 6:30
  about
• 6:30
  it.
• 6:31
  Yeah.
• 6:31
  Right.
• 6:31
  But
• 6:31
  when
• 6:31
  you
• 6:31
  start
• 6:32
  to
• 6:32
  chair
• 6:32
  a
• 6:32
  committee,
• 6:34
  what
• 6:34
  you
• 6:34
  realize
• 6:34
  is
• 6:35
  you
• 6:35
  have
• 6:35
  a
• 6:35
  real
• 6:35
  responsibility
• 6:37
  for
• 6:37
  whatever
• 6:37
  it
• 6:38
  is
• 6:38
  that
• 6:38
  committee
• 6:38
  is
• 6:39
  there
• 6:39
  to
• 6:39
  do.
• 6:39
  Mine
• 6:39
  is
• 6:39
  corporate
• 6:40
  responsibility.
• 6:40
  So
• 6:41
  all
• 6:41
  of
• 6:41
  the
• 6:41
  risk
• 6:41
  of
• 6:41
  the
• 6:41
  organisation
• 6:42
  reputation,
• 6:44
  sustainability
• 6:45
  is
• 6:45
  are
• 6:46
  we
• 6:46
  doing
• 6:46
  the
• 6:46
  right
• 6:47
  things
• 6:47
  to
• 6:48
  give
• 6:48
  comfort
• 6:49
  to
• 6:49
  the
• 6:49
  board
• 6:49
  and
• 6:49
  to
• 6:50
  the
• 6:50
  shareholders
• 6:51
  that
• 6:52
  we
• 6:52
  have
• 6:52
  a
• 6:53
  process
• 6:53
  in
• 6:54
  place,
• 6:54
  warning
• 6:55
  systems
• 6:55
  in
• 6:56
  place,
• 6:56
  proactive
• 6:57
  things
• 6:57
  in
• 6:57
  place,
• 6:57
  and
• 6:58
  the
• 6:58
  right
• 6:58
  people
• 6:58
  in
• 6:59
  order
• 6:59
  to
• 6:59
  be
• 6:59
  able
• 6:59
  to
• 6:59
  deliver
• 6:59
  on
• 7:00
  it.
• 7:00
  Judith,
• 7:00
  how
• 7:00
  do
• 7:00
  you
• 7:01
  build
• 7:01
  trust
• 7:01
  with
• 7:01
  the
• 7:02
  executive
• 7:02
  team?
• 7:02
  I'm
• 7:03
  always
• 7:03
  curious
• 7:03
  about
• 7:03
  that
• 7:04
  because,
• 7:04
  like,
• 7:04
  it
• 7:04
  feels
• 7:05
  like
• 7:05
  a
• 7:05
  board
• 7:05
  that's
• 7:06
  functioning
• 7:06
  correctly.
• 7:07
  There
• 7:07
  should
• 7:07
  be
• 7:07
  like
• 7:07
  this
• 7:07
  shared
• 7:08
  mutual
• 7:08
  trust
• 7:08
  and
• 7:09
  you
• 7:09
  should
• 7:09
  want
• 7:09
  to
• 7:10
  meet
• 7:10
  together
• 7:10
  and
• 7:11
  work
• 7:11
  through
• 7:11
  the
• 7:11
  problems
• 7:12
  together.
• 7:12
  But
• 7:12
  at
• 7:12
  times
• 7:12
  it
• 7:13
  feels
• 7:13
  like,
• 7:13
  yo,
• 7:13
  I
• 7:13
  got
• 7:14
  my
• 7:14
  board
• 7:14
  meeting,
• 7:14
  you
• 7:14
  know,
• 7:15
  and
• 7:15
  how
• 7:15
  do
• 7:15
  you
• 7:15
  go
• 7:16
  about
• 7:16
  doing
• 7:16
  that?
• 7:16
  We've
• 7:17
  all,
• 7:17
  all
• 7:18
  of
• 7:18
  us
• 7:18
  who've
• 7:18
  been
• 7:18
  in
• 7:18
  public
• 7:19
  companies
• 7:19
  that
• 7:19
  have
• 7:19
  got.
• 7:20
  We've
• 7:20
  got
• 7:20
  a
• 7:20
  board
• 7:20
  meeting.
• 7:21
  We
• 7:21
  know
• 7:21
  that.
• 7:21
  And
• 7:21
  that's
• 7:22
  because
• 7:22
  it's
• 7:22
  deadlines
• 7:23
  and
• 7:23
  it's
• 7:23
  PowerPoints,
• 7:25
  which
• 7:25
  is
• 7:25
  really
• 7:25
  one
• 7:26
  of
• 7:26
  the
• 7:26
  boards.
• 7:26
  I
• 7:26
  do
• 7:26
  don't
• 7:26
  use
• 7:27
  PowerPoints.
• 7:27
  But
• 7:27
  it's.
• 7:28
  Which
• 7:28
  is
• 7:28
  great.
• 7:28
  Yeah.
• 7:30
  But
• 7:30
  it's
• 7:30
  actually,
• 7:33
  you
• 7:33
  have
• 7:33
  to
• 7:33
  demonstrate
• 7:34
  that
• 7:35
  you
• 7:35
  trust
• 7:35
  the
• 7:35
  team.
• 7:37
  You
• 7:37
  have
• 7:37
  to
• 7:37
  demonstrate
• 7:38
  that
• 7:38
  level
• 7:38
  of
• 7:38
  trust.
• 7:39
  And
• 7:39
  then
• 7:39
  around
• 7:40
  a
• 7:40
  board
• 7:40
  table.
• 7:40
  One
• 7:40
  of
• 7:40
  the
• 7:40
  reasons
• 7:41
  I
• 7:41
  love
• 7:41
  doing
• 7:41
  the
• 7:41
  boards
• 7:42
  is
• 7:42
  you
• 7:42
  have
• 7:42
  different
• 7:43
  specialisms
• 7:44
  and
• 7:46
  where
• 7:46
  you
• 7:47
  find
• 7:47
  you
• 7:47
  can
• 7:47
  be
• 7:47
  helpful
• 7:48
  with
• 7:48
  your
• 7:48
  specialism.
• 7:49
  So
• 7:50
  I
• 7:50
  understand
• 7:50
  a
• 7:51
  retailer
• 7:51
  and
• 7:52
  a
• 7:52
  supplier
• 7:52
  partnership,
• 7:53
  so
• 7:54
  you
• 7:54
  can
• 7:54
  be
• 7:54
  helpful
• 7:55
  to
• 7:55
  some
• 7:55
  folks
• 7:55
  by
• 7:55
  leaning
• 7:56
  into
• 7:56
  that
• 7:56
  area
• 7:57
  because
• 7:57
  they
• 7:57
  want
• 7:57
  to
• 7:58
  know
• 7:58
  from
• 7:58
  you.
• 7:59
  But
• 7:59
  at
• 7:59
  the
• 7:59
  board
• 8:00
  level,
• 8:01
  you're
• 8:01
  there
• 8:01
  very
• 8:02
  much
• 8:02
  more
• 8:02
  to
• 8:02
  ask
• 8:03
  the
• 8:03
  right
• 8:03
  questions,
• 8:04
  keep
• 8:04
  it
• 8:04
  high
• 8:05
  level,
• 8:05
  more
• 8:06
  helicopter
• 8:07
  in
• 8:07
  the
• 8:07
  way
• 8:07
  that
• 8:07
  you
• 8:07
  approach
• 8:07
  it.
• 8:08
  Got
• 8:08
  it,
• 8:08
  Got
• 8:08
  it.
• 8:08
  Okay.
• 8:09
  So
• 8:09
  you're
• 8:09
  also
• 8:09
  on
• 8:09
  Delta's
• 8:10
  board,
• 8:10
  which
• 8:10
  is
• 8:10
  a
• 8:10
  company
• 8:11
  that's
• 8:11
  near
• 8:11
  and
• 8:11
  dear
• 8:11
  to
• 8:11
  us
• 8:12
  in
• 8:12
  Minneapolis,
• 8:12
  where
• 8:13
  I
• 8:13
  live.
• 8:14
  I'm
• 8:14
  curious.
• 8:14
  I
• 8:14
  hope
• 8:14
  you
• 8:15
  fly
• 8:15
  us.
• 8:15
  Oh,
• 8:15
  yeah,
• 8:16
  I'm
• 8:17
  flying
• 8:17
  out
• 8:17
  tomorrow.
• 8:17
  We
• 8:18
  appreciate
• 8:18
  your
• 8:18
  custom
• 8:18
  for
• 8:19
  sure.
• 8:19
  Yeah.
• 8:19
  Can
• 8:19
  you
• 8:19
  give
• 8:19
  me
• 8:19
  an
• 8:20
  upgrade
• 8:20
  too,
• 8:20
  while
• 8:20
  you're
• 8:20
  at
• 8:21
  it?
• 8:21
  Yeah,
• 8:21
  let's
• 8:21
  see.
• 8:22
  But
• 8:22
  what
• 8:23
  is
• 8:23
  a
• 8:23
  retail
• 8:23
  mindset
• 8:24
  breath
• 8:24
  bring
• 8:24
  to
• 8:25
  a
• 8:25
  board
• 8:25
  like
• 8:25
  Delta,
• 8:26
  you
• 8:26
  know,
• 8:26
  that,
• 8:26
  say,
• 8:26
  being
• 8:27
  somebody
• 8:27
  that's
• 8:27
  just
• 8:27
  solely
• 8:28
  in
• 8:28
  the.
• 8:28
  In
• 8:28
  the
• 8:28
  aviation
• 8:29
  industry,
• 8:29
  maybe
• 8:30
  can't,
• 8:30
  you
• 8:30
  know,
• 8:31
  can't
• 8:31
  bring
• 8:31
  to
• 8:32
  the
• 8:32
  table.
• 8:33
  Well,
• 8:33
  actually,
• 8:33
  do
• 8:34
  you
• 8:34
  know
• 8:34
  what?
• 8:34
  They
• 8:34
  very
• 8:35
  much
• 8:35
  see
• 8:35
  themselves
• 8:36
  as
• 8:36
  a
• 8:37
  customer
• 8:37
  business.
• 8:38
  Yeah.
• 8:38
  And
• 8:39
  a
• 8:39
  people
• 8:39
  business.
• 8:39
  It
• 8:40
  seems
• 8:40
  like
• 8:40
  they've
• 8:40
  got
• 8:40
  retail
• 8:41
  media
• 8:41
  wired
• 8:42
  in
• 8:42
  on
• 8:42
  the
• 8:42
  seats
• 8:42
  now.
• 8:43
  Do
• 8:43
  you
• 8:43
  see
• 8:43
  on
• 8:43
  the
• 8:43
  back
• 8:43
  of
• 8:44
  the
• 8:44
  seats?
• 8:44
  Yeah.
• 8:45
  So
• 8:45
  the
• 8:46
  reason
• 8:46
  I
• 8:46
  joined
• 8:47
  Delta
• 8:48
  was
• 8:48
  a.
• 8:49
  The
• 8:49
  airline
• 8:49
  industry
• 8:50
  is
• 8:50
  fascinating,
• 8:50
  but
• 8:51
  primarily
• 8:52
  because
• 8:53
  it
• 8:53
  was
• 8:53
  the
• 8:53
  closest
• 8:54
  I'd
• 8:54
  seen
• 8:55
  to
• 8:55
  the
• 8:55
  way
• 8:55
  Walmart
• 8:56
  thinks
• 8:57
  about
• 8:57
  values
• 8:58
  and
• 8:58
  people.
• 8:59
  And
• 8:59
  what
• 8:59
  we
• 8:59
  talked
• 9:00
  about
• 9:00
  right
• 9:00
  at
• 9:00
  the
• 9:00
  very
• 9:00
  beginning,
• 9:01
  Chris,
• 9:01
  is
• 9:02
  how
• 9:02
  you
• 9:02
  take
• 9:02
  care
• 9:03
  of
• 9:03
  your
• 9:03
  people
• 9:03
  will
• 9:04
  matter
• 9:04
  hugely
• 9:05
  on
• 9:05
  how
• 9:05
  they
• 9:05
  Take
• 9:06
  care
• 9:06
  of
• 9:07
  customers
• 9:07
  and
• 9:07
  never
• 9:08
  is
• 9:08
  it
• 9:08
  more
• 9:08
  true
• 9:09
  in
• 9:10
  such
• 9:10
  a
• 9:10
  high
• 9:10
  service
• 9:11
  area
• 9:12
  as
• 9:12
  Delta.
• 9:13
  So
• 9:14
  that
• 9:14
  is,
• 9:14
  you
• 9:15
  know,
• 9:15
  I
• 9:16
  have
• 9:16
  nothing
• 9:17
  to
• 9:17
  teach
• 9:17
  them
• 9:18
  other
• 9:18
  than
• 9:18
  to
• 9:18
  reinforce
• 9:20
  to
• 9:20
  them
• 9:20
  in
• 9:21
  that
• 9:21
  area
• 9:22
  that
• 9:22
  that
• 9:22
  is
• 9:23
  exactly
• 9:23
  the
• 9:23
  right
• 9:23
  thing
• 9:24
  to
• 9:24
  do.
• 9:24
  And
• 9:25
  they
• 9:25
  run
• 9:25
  amazing
• 9:26
  things.
• 9:26
  They
• 9:26
  run
• 9:26
  these
• 9:26
  things
• 9:26
  called
• 9:27
  velvet
• 9:27
  sessions
• 9:27
  where
• 9:28
  they
• 9:28
  bring
• 9:28
  teams
• 9:28
  around
• 9:29
  from
• 9:29
  all
• 9:29
  over
• 9:30
  yet
• 9:30
  the
• 9:30
  world
• 9:31
  really.
• 9:31
  But
• 9:31
  they're
• 9:32
  primarily
• 9:32
  the
• 9:32
  US
• 9:33
  and
• 9:33
  their
• 9:34
  senior
• 9:34
  leadership
• 9:34
  team
• 9:35
  gets
• 9:35
  on
• 9:35
  stage,
• 9:36
  tells
• 9:36
  them
• 9:36
  what
• 9:37
  the
• 9:37
  strategy
• 9:37
  is,
• 9:37
  tells
• 9:38
  them
• 9:38
  what's
• 9:38
  happening,
• 9:38
  and
• 9:38
  they
• 9:39
  run
• 9:39
  15
• 9:39
  of
• 9:39
  those
• 9:39
  a
• 9:40
  year.
• 9:40
  A
• 9:40
  Walmart
• 9:41
  equivalent
• 9:41
  would
• 9:41
  be
• 9:42
  the
• 9:42
  associate
• 9:43
  celebration
• 9:44
  meetings
• 9:44
  and
• 9:45
  do
• 9:45
  that.
• 9:45
  So
• 9:45
  there's
• 9:45
  a
• 9:45
  lot
• 9:45
  of
• 9:46
  similarities
• 9:46
  actually
• 9:47
  between
• 9:47
  the
• 9:47
  businesses.
• 9:48
  Yeah,
• 9:48
  that
• 9:48
  actually
• 9:49
  makes
• 9:49
  a
• 9:49
  ton
• 9:49
  of
• 9:49
  sense.
• 9:49
  Actually
• 9:50
  helps
• 9:50
  me
• 9:50
  see
• 9:50
  why
• 9:50
  too,
• 9:51
  like
• 9:51
  for
• 9:51
  personally
• 9:52
  and
• 9:52
  I
• 9:52
  think
• 9:52
  a
• 9:52
  lot
• 9:52
  of
• 9:52
  people
• 9:52
  feel
• 9:53
  this
• 9:53
  way.
• 9:53
  It's
• 9:53
  Delta
• 9:54
  and
• 9:54
  then
• 9:54
  everyone
• 9:54
  else
• 9:55
  in
• 9:55
  the
• 9:55
  airline
• 9:55
  industry
• 9:56
  in
• 9:56
  the
• 9:56
  US
• 9:56
  too.
• 9:57
  And
• 9:57
  it's
• 9:57
  probably
• 9:58
  because
• 9:58
  of
• 9:58
  that
• 9:58
  customer
• 9:59
  first
• 9:59
  mentality.
• 10:00
  All
• 10:00
  right,
• 10:00
  I'll
• 10:00
  get
• 10:00
  you
• 10:00
  out
• 10:01
  of
• 10:01
  here
• 10:01
  on
• 10:01
  this.
• 10:01
  AI
• 10:02
  dominating
• 10:03
  the
• 10:03
  conversation.
• 10:04
  We
• 10:04
  made
• 10:04
  it
• 10:04
  for
• 10:05
  10
• 10:05
  minutes
• 10:06
  before
• 10:06
  we
• 10:06
  got
• 10:06
  that.
• 10:06
  Okay,
• 10:07
  I
• 10:07
  gotta,
• 10:07
  I
• 10:07
  gotta
• 10:08
  ask
• 10:08
  it
• 10:08
  though.
• 10:08
  I
• 10:08
  lose
• 10:08
  my
• 10:08
  pundit
• 10:09
  card,
• 10:09
  Jude,
• 10:09
  if
• 10:10
  I
• 10:10
  don't
• 10:10
  ask
• 10:10
  this
• 10:10
  question.
• 10:11
  AI,
• 10:12
  you,
• 10:12
  you've,
• 10:13
  you
• 10:13
  know,
• 10:13
  you've
• 10:13
  got
• 10:13
  the
• 10:14
  retail
• 10:14
  perspective,
• 10:15
  cpg,
• 10:15
  airline
• 10:16
  perspective.
• 10:18
  How
• 10:19
  big
• 10:19
  is
• 10:19
  it
• 10:19
  in
• 10:19
  your
• 10:20
  mind
• 10:20
  and
• 10:20
  what
• 10:20
  are
• 10:20
  we
• 10:20
  getting
• 10:21
  right,
• 10:21
  what
• 10:21
  are
• 10:21
  we
• 10:21
  getting
• 10:21
  wrong?
• 10:22
  I
• 10:22
  think
• 10:22
  we've
• 10:23
  heard
• 10:23
  a
• 10:23
  lot
• 10:23
  about
• 10:23
  that
• 10:24
  from
• 10:24
  this
• 10:24
  conference.
• 10:24
  I
• 10:24
  mean,
• 10:25
  I
• 10:25
  don't
• 10:25
  think
• 10:25
  we've
• 10:25
  got
• 10:25
  10
• 10:26
  minutes
• 10:26
  in
• 10:26
  any
• 10:26
  session
• 10:27
  actually
• 10:27
  without
• 10:27
  it
• 10:28
  coming
• 10:28
  up.
• 10:29
  And
• 10:29
  we're
• 10:29
  definitely
• 10:29
  on
• 10:30
  a
• 10:30
  curve
• 10:30
  for
• 10:30
  this.
• 10:30
  There
• 10:31
  is
• 10:31
  no
• 10:31
  doubt
• 10:31
  it's
• 10:32
  here.
• 10:32
  I
• 10:32
  heard
• 10:32
  a
• 10:32
  statistic,
• 10:33
  it
• 10:33
  was
• 10:33
  something
• 10:33
  like
• 10:34
  49%
• 10:35
  of
• 10:36
  customers
• 10:36
  across
• 10:37
  Europe.
• 10:38
  There
• 10:38
  is
• 10:38
  an
• 10:39
  agentic
• 10:40
  AI
• 10:40
  involved
• 10:41
  somewhere.
• 10:42
  But
• 10:42
  it's
• 10:42
  not
• 10:42
  actually
• 10:43
  the
• 10:43
  full
• 10:43
  thing.
• 10:44
  It's
• 10:44
  just
• 10:44
  that
• 10:45
  I'm
• 10:45
  looking
• 10:45
  it
• 10:45
  up,
• 10:46
  I'm
• 10:46
  researching
• 10:47
  on
• 10:47
  it
• 10:47
  and
• 10:47
  doing
• 10:47
  that,
• 10:47
  which
• 10:48
  is
• 10:48
  huge
• 10:49
  from
• 10:49
  a
• 10:49
  standing
• 10:49
  start.
• 10:50
  So
• 10:50
  it's
• 10:51
  very
• 10:51
  real
• 10:51
  short
• 10:51
  time.
• 10:52
  It
• 10:52
  really
• 10:52
  does
• 10:52
  matter.
• 10:53
  There
• 10:53
  is
• 10:54
  lots
• 10:54
  of
• 10:54
  experiments
• 10:54
  going
• 10:55
  on
• 10:55
  how
• 10:56
  fast
• 10:56
  the
• 10:56
  adoption
• 10:57
  curve
• 10:57
  will
• 10:57
  be
• 10:57
  on
• 10:58
  pure
• 10:58
  agentic,
• 10:58
  which
• 10:59
  is
• 10:59
  there
• 10:59
  is
• 10:59
  no
• 10:59
  human
• 11:00
  involved
• 11:00
  other
• 11:01
  than
• 11:01
  setting
• 11:01
  up
• 11:02
  them
• 11:02
  and
• 11:02
  they
• 11:02
  will
• 11:03
  transact
• 11:03
  for
• 11:03
  you.
• 11:03
  I
• 11:03
  think
• 11:04
  that
• 11:04
  is
• 11:04
  some
• 11:04
  way
• 11:05
  off.
• 11:06
  But
• 11:06
  we
• 11:07
  confuse
• 11:07
  terms
• 11:08
  here.
• 11:08
  Yeah,
• 11:08
  we
• 11:08
  do
• 11:09
  as
• 11:09
  well.
• 11:10
  But
• 11:10
  what
• 11:10
  I
• 11:10
  do
• 11:10
  think
• 11:11
  is
• 11:11
  everybody
• 11:12
  should
• 11:12
  be
• 11:12
  thinking
• 11:13
  about
• 11:13
  what
• 11:14
  could
• 11:14
  it
• 11:14
  be
• 11:14
  for
• 11:14
  their
• 11:15
  retail
• 11:15
  business.
• 11:16
  And
• 11:16
  I
• 11:16
  would
• 11:16
  say
• 11:17
  that
• 11:17
  not
• 11:17
  just
• 11:18
  because
• 11:18
  I
• 11:18
  come
• 11:18
  from
• 11:18
  there,
• 11:18
  I
• 11:18
  think
• 11:19
  Walmart,
• 11:19
  John
• 11:19
  Furna
• 11:20
  and
• 11:20
  the
• 11:20
  team
• 11:20
  there
• 11:20
  have
• 11:21
  done
• 11:21
  a
• 11:21
  really
• 11:21
  good
• 11:21
  job
• 11:22
  of
• 11:22
  painting
• 11:23
  a
• 11:23
  picture
• 11:24
  about
• 11:24
  how
• 11:25
  all
• 11:25
  of
• 11:25
  these
• 11:25
  different
• 11:26
  pieces
• 11:26
  of
• 11:26
  let's
• 11:27
  put
• 11:27
  it
• 11:27
  under
• 11:27
  a
• 11:27
  bucket
• 11:27
  of
• 11:28
  technology
• 11:29
  come
• 11:29
  together,
• 11:30
  whether
• 11:31
  it
• 11:31
  be
• 11:31
  in
• 11:31
  the
• 11:32
  supply
• 11:32
  chain
• 11:33
  for
• 11:33
  our
• 11:33
  associates,
• 11:34
  for
• 11:35
  customers,
• 11:36
  and
• 11:36
  what
• 11:36
  might
• 11:36
  that
• 11:37
  look
• 11:37
  like
• 11:37
  in
• 11:37
  the
• 11:37
  future?
• 11:37
  And
• 11:38
  that's
• 11:38
  the
• 11:38
  one
• 11:38
  thing
• 11:38
  that
• 11:38
  I've
• 11:39
  probably
• 11:39
  seen
• 11:39
  that's
• 11:39
  missing
• 11:40
  here
• 11:40
  slightly
• 11:41
  is
• 11:41
  there's
• 11:42
  lots
• 11:42
  of.
• 11:42
  We're
• 11:42
  doing
• 11:42
  these
• 11:43
  pieces
• 11:44
  I'm
• 11:44
  not
• 11:44
  yet
• 11:45
  seeing
• 11:45
  enough
• 11:45
  of.
• 11:45
  What
• 11:46
  does
• 11:46
  it
• 11:46
  look
• 11:46
  like
• 11:46
  when
• 11:47
  it
• 11:47
  all
• 11:47
  ties
• 11:47
  together?
• 11:48
  And
• 11:48
  it's
• 11:48
  hard,
• 11:49
  Chris,
• 11:49
  because
• 11:50
  we
• 11:50
  don't
• 11:51
  know.
• 11:51
  But
• 11:52
  having
• 11:52
  some
• 11:52
  kind
• 11:53
  of
• 11:53
  vision
• 11:53
  for
• 11:53
  that,
• 11:54
  and
• 11:54
  some
• 11:54
  people
• 11:54
  articulated
• 11:55
  it
• 11:55
  really
• 11:55
  well.
• 11:56
  Yeah.
• 11:56
  I
• 11:56
  had
• 11:56
  that
• 11:56
  same
• 11:56
  question
• 11:57
  on
• 11:57
  my
• 11:57
  panel,
• 11:57
  actually,
• 11:58
  to
• 11:58
  reiterate
• 11:58
  your
• 11:58
  point,
• 11:58
  I
• 11:59
  said
• 11:59
  at
• 11:59
  these
• 11:59
  conferences
• 12:00
  we
• 12:00
  sometimes
• 12:00
  talk
• 12:00
  about
• 12:01
  technology
• 12:01
  and
• 12:01
  isolation.
• 12:02
  We
• 12:02
  can
• 12:03
  do
• 12:03
  everything
• 12:03
  we
• 12:03
  want,
• 12:03
  but
• 12:04
  at
• 12:04
  the
• 12:04
  end
• 12:04
  of
• 12:04
  the
• 12:04
  day,
• 12:04
  the
• 12:04
  resources
• 12:05
  are
• 12:05
  finite
• 12:05
  and
• 12:06
  you
• 12:06
  have
• 12:06
  to
• 12:06
  decide
• 12:06
  where
• 12:06
  to
• 12:07
  invest.
• 12:07
  That's
• 12:07
  going
• 12:08
  to
• 12:08
  make
• 12:08
  the
• 12:08
  most
• 12:08
  sense.
• 12:08
  And
• 12:09
  what
• 12:09
  problem
• 12:09
  are
• 12:09
  you
• 12:10
  solving?
• 12:11
  So.
• 12:11
  Yeah.
• 12:12
  And
• 12:13
  you
• 12:13
  know
• 12:13
  your
• 12:13
  process
• 12:13
  well
• 12:14
  enough
• 12:14
  to
• 12:14
  know
• 12:14
  what
• 12:14
  problem
• 12:15
  you're
• 12:15
  solving,
• 12:15
  too,
• 12:15
  right?
• 12:16
  That's
• 12:16
  the
• 12:16
  other
• 12:16
  stump
• 12:16
  I've
• 12:17
  been
• 12:17
  on.
• 12:17
  Never
• 12:17
  ending
• 12:18
  in
• 12:18
  retail.
• 12:18
  That's
• 12:18
  the
• 12:19
  soapbox
• 12:19
  I've
• 12:19
  been
• 12:19
  on.
• 12:19
  Well,
• 12:20
  thank
• 12:20
  you
• 12:20
  so
• 12:20
  much.
• 12:21
  It's
• 12:21
  my
• 12:21
  pleasure.
• 12:21
  It's
• 12:22
  been
• 12:22
  great.
• 12:22
  I
• 12:22
  hope
• 12:22
  we
• 12:22
  can
• 12:23
  do
• 12:23
  this
• 12:23
  again.
• 12:24
  I
• 12:24
  hope
• 12:24
  we
• 12:24
  can.
• 12:25
  I
• 12:25
  won't
• 12:25
  hold
• 12:25
  you
• 12:25
  to
• 12:25
  it
• 12:26
  right
• 12:26
  now,
• 12:26
  but
• 12:26
  I
• 12:26
  hope
• 12:26
  we
• 12:26
  can.
• 12:27
  Judith
• 12:27
  McKenna,
• 12:28
  former
• 12:29
  Walmart
• 12:29
  International
• 12:30
  CEO
• 12:30
  and
• 12:30
  now
• 12:30
  board
• 12:31
  member
• 12:31
  at
• 12:31
  Delta
• 12:32
  and
• 12:32
  Unilever.
• 12:33
  And
• 12:33
  to
• 12:33
  all
• 12:33
  my
• 12:33
  fans
• 12:34
  out
• 12:34
  there,
• 12:34
  thank
• 12:34
  you
• 12:34
  to
• 12:34
  Fusion
• 12:35
  for
• 12:35
  supporting
• 12:35
  our
• 12:36
  coverage
• 12:36
  at
• 12:36
  the
• 12:36
  conference
• 12:37
  all
• 12:37
  week
• 12:38
  long.
• 12:39
  And
• 12:39
  as
• 12:39
  always,
• 12:40
  be
• 12:40
  careful
• 12:40
  out
• 12:40
  there.
• 12:41
  Thank
• 12:41
  you.