New York — Doug McMillon, Walmart’s CEO for just over a decade, is retiring next year, the retailer announced Friday. McMillon will be succeeded by John Furner on February 1, 2026. Furner is currently the CEO and president of Walmart’s U.S. operations, the company’s largest business unit. Both executives have been with the company for several decades in various leadership roles.
The transition comes amid a tumultuous time for retailers, as tariffs and sinking consumer sentiment have roiled the industry’s bottom lines. Yet Walmart, under McMillon’s leadership, has overcome many of the challenges that have plagued competitors. Its supply-chain dominance and grocery prowess have allowed Walmart to offer rock-bottom prices on necessities, attracting customers across a wide range of income groups.
The company reported in its most recent earnings call that its fastest-growing customer segment includes households earning more than $100,000 a year.
McMillon also oversaw Walmart’s transition into a major e-commerce competitor, offering a strong alternative to Amazon and serving as a significant growth engine for the retailer. The company has expanded its Walmart+ subscription service, which acts as a growing rival to Amazon Prime.
McMillon’s journey with Walmart began as a store associate. Over the years, he worked his way up through various leadership roles, including stints at Sam’s Club and Walmart’s international operations. Under his tenure as CEO since 2014, Walmart’s stock has grown 300%.
“Our family and Board have stated many times that Doug was uniquely qualified to be CEO at the necessary time for Walmart,” said Greg Penner, Chairman of Walmart Inc., in a press release. “Doug led a comprehensive transformation by investing in our associates, advancing our digital and eCommerce capabilities, and modernizing our supply chain, resulting in sustained, robust financial performance.”
John Furner, the incoming CEO, has been the CEO and President of Walmart U.S.’ 4,600 stores since 2019. Like McMillon, Furner also began his career as an hourly associate in 1993. He has worked across various segments including Sam’s Club and Walmart China. The company credits him for his leadership in associate development, digital innovation, and operational excellence.
Walmart announced that McMillon will remain on its board until next June and serve as an advisor to Furner throughout fiscal year 2027. An announcement regarding Walmart’s U.S. CEO replacement will be made soon.
This is a developing story and will be updated.
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In related news, Homeland Security Secretary Kristi Noem announced that TSA employees who “stepped up every single day” and “served with exemplary service” will be receiving bonus checks.
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