The bad news? You get to run a retailer when consumer spending has collapsed. The good news? It just happens to be the biggest, most-powerful retailer in the world, one whose discounting, efficiencies, and global reach have allowed it to prosper during a recession.

The retailer, of course, is Wal-Mart Stores, which has unexpectedly announced a change at the top.

The company said today that Mike Duke, 58, has been chosen to succeed Lee Scott, 59, as president and chief executive, effective February 1.

Eduardo Castro-Wright, 53, the president of Wal-Mart U.S.A., has also been promoted to vice chairman.

Under Scott's nine-year reign, Wal-Mart expanded overseas, in the U.K., Brazil, Japan, and elsewhere. And the company gradually shed some of its prickly corporate culture, a legacy of being a family-run business, trying to polish its public image on labor and environmental issues.

The slump in the economy, meanwhile, has driven shoppers to buy food and basics at Wal-Mart and Sam's Club stores. In its third quarter, the company exceeded Wall Street estimates, reporting a 9.8 percent gain in earnings and even saying that it was optimistic about the holiday shopping season.

"Mike Duke is a highly-respected executive, both domestically and internationally, with broad experience throughout the company, having successfully led Wal-Mart's Logistics Division, U.S. operations, and International operations," Rob Walton, the chairman of the board, said. "He understands retail and appreciates the complex global environment in which we operate.”