Walmart CEO Doug McMillon to Retire in 2026
Walmart US Chief John Furner to Take Over
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Walmart Inc. said CEO Doug McMillon will retire in February and be replaced by the company’s U.S. head John Furner.
Furner, 51, was long viewed as an heir apparent for the 59-year-old McMillon after running the company’s largest business.
McMillon’s retirement marks the end of an era for Walmart, the world’s largest retailer and employer. McMillon, who started working at Walmart in his teens, rose up the ranks to CEO and brought the company into the Internet age.
Furner is a “Walmart lifer and is the logical choice” as the next CEO, said Telsey Advisory Group analyst Joseph Feldman.Ěý
Walmart’s shares fell about 3% in premarket trading on Nov. 14. The stock had gained 13% this year, slightly trailing the rise of the S&P 500 Index.
John Furner has been head of Walmart U.S. since 2019. (Anna Rose Layden/Bloomberg)
The company appointed McMillon as CEO in 2014, and he transformed the retailer into a digital powerhouse consisting of e-commerce, advertising and membership businesses. Since he took the helm more than a decade ago, Walmart’s shares have more than quadrupled.
McMillon said that he had worked with Furner for 20 years and that his leadership would take the company to the “next-level.” He called out how artificial intelligence was transforming the business as a major challenge ahead.
“He’s uniquely capable of leading the company through this next AI-driven transformation,” McMillon said.
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Furner has been CEO of Walmart U.S. since 2019, overseeing a division with more than 4,600 stores.Ěý
“John Furner is the right leader to guide Walmart into our next chapter of growth and transformation,” Greg Penner, Walmart’s board chair, said in a statement. “After starting as an hourly associate and being with us for over 30 years in a variety of leadership roles across all three of our operating segments, John understands every dimension of our business –— from the sales floor to global strategy.”
McMillon will stay on the board until June and will remain an adviser to Furner through fiscal year 2027. The company said it plans to make an announcement on Furner’s successor as CEO of Walmart’s U.S. business before the end of the 2026 fiscal year.
Walmart ranks No. 1 on the Transport Topics Top 100 list of theĚýlargest private carriers in North America.
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