Doug McMillon probably has the biggest job in retail — president and chief executive officer of global giant Walmart Inc.

While it’s a gig that certainly has its rewards — including a $27.4 million pay package last year — it also has plenty of headaches, from high-stakes Oval Office meetings to conflicting pressures on hot-button issues like diversity. 

McMillon is at the center of it all at Walmart, which released its proxy statement on Thursday, laying out executive pay and issues to be brought up at the company’s annual meeting on June 5. 

The regulatory filing did not address what is mostly likely consuming a good deal of McMillon’s time — President Donald Trump’s trade war with China, which added a 145 percent tariff on goods from the country. 

That’s a huge price increase on roughly a third of the goods Walmart sells and a change that threatens to upend most of the import-heavy retail world.  

So McMillon was among the top retail CEOs meeting with Trump on Monday. While the exact details of the meeting are not known, he was apparently delivering the bad news that fallout from the trade war was going to start showing in stores soon.

Trump has shown some signs of maybe moderating his position some, but the U.S.-China game of chicken is continuing.

Shortly after the tariffs first hit this month, McMillon put on a brave face for investors and said: “We’re going to focus on what we can control. We’re going to do our best to keep prices as low as we can.”

That is always job one at Walmart and McMillon saw his compensation inch up 1.6 percent as he did it last year.

The CEO’s take included a $1.5 million salary and $4.4 million in incentive pay. But the vast majority of his pay came in the form of stock awards, which were valued at $20.4 million and only pay out if the company performs well. 

The annual meeting also opens up an opportunity for shareholders to submit proposals to the company’s board. And as Walmart is the world’s largest retailer, it is always under the spotlight with groups angling to use the meeting as an opportunity to make their case to the broader public. 

Technically, shareholder proposals are put before the full shareholder base for vote. They rarely pass, but the voting can sometimes indicate how shareholder sentiment is starting to trend. 

This time through Walmart is being nudged on both sides of the hot-button of diversity, equity and inclusion. The company moved away from its DEI programs in favor of belonging after some prodding from activist Robby Starbuck last year. 

The Organization United for Respect will request at the meeting that Walmart “conduct a third-party, independent racial equity audit analyzing Walmart’s adverse impacts on Black, Indigenous and People of Color (BIPOC) communities, and providing recommendations for improving the company’s racial equity impact.”

At the same time, the National Center for Public Policy Research wants a report “explaining why it apparently took an external threat of public exposure of Walmart’s policies and practices for Walmart to revise its diversity, equity and inclusion initiatives.”

Walmart’s board recommended shareholders vote against both proposals. 

“One of our core values is respect for the individual,” the company said. “We work to create a culture where our customers feel welcome and our associates feel like they belong and their contributions are valued. We want our customers to be excited to shop with us and our associates to see us as the best place to work and to build a career. We believe fostering this type of culture among our associates, customers, suppliers and communities creates value for our business.”