It’s to support global disaster response efforts.
As the 10th anniversary of Hurricane Katrina approaches next week, Walmart CEO Doug McMillon used his personal Instagram account on Friday to announce a $25 million donation to support global disaster response efforts.
“Hurricane Katrina touched our customers, communities we serve, and our associates in a profound way,” McMillon said in the video posted on the photo-sharing network, which received 132 “likes” in its first five hours.
The catastrophic storm made landfall on Aug. 29, 2005, ravaging New Orleans in what U.S. officials have called the most devastating natural disaster in the nation’s history.
“We haven’t forgotten,” McMillon said in a separate statement released by Walmart. The retail giant, together with its charitable arm Walmart Foundation, will dole out the $25 million gift over five years to organizations specializing in disaster recovery and relief. “We will continue to help communities prepare for—and recover from—the unexpected,” McMillon continued.
See McMillon’s Instagram post announcing the gift here:
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SOURCE: TIME Magazine / Jen Wieczner / Fortune