Walmart CEO Doug McMillon to Retire, John Furner Named Successor

Walmart has announced that its long-time Chief Executive Officer, Doug McMillon, will retire on 31 January 2026, marking the end of his more than a decade‑long leadership.

McMillon, aged 59, first joined Walmart in his youth, working as an hourly associate. Over the years, he climbed the ranks to become CEO in 2014. Even after stepping down, he will continue to serve on the company’s board of directors until the next annual shareholder meeting, helping ensure a smooth leadership transition.

John Furner to Take Over from February

John Furner, currently President and CEO of Walmart U.S., has been chosen to succeed McMillon, becoming the new President and CEO of Walmart Inc. from 1 February 2026.

In the same move, Furner has also been elected to Walmart’s board of directors, effective immediately. McMillon will remain an advisor to Furner through fiscal year 2027, offering guidance during the transition.

From Shop Floor to the Boardroom: A Walmart Success Story

Furner, 51, has deep roots in Walmart. He started his career in 1993 as an hourly associate and gradually rose through various roles — including merchandising, operations and sourcing. He has worked in multiple countries, and previously led Sam’s Club U.S. as its President and CEO.

Since 2019, Furner has been responsible for Walmart’s U.S. operations, overseeing more than 4,600 stores. Walmart’s chairman, Greg Penner, praised Furner’s long experience and said that his deep understanding of “every dimension of our business from the sales floor to global strategy” makes him well suited to lead the company into its next phase.

McMillon’s Legacy: Digital Shift and Growth

During McMillon’s tenure, Walmart underwent a significant transformation. He invested heavily in associates, expanded the company’s e-commerce and digital capabilities, and modernised its supply chain.

Under his leadership, Walmart grew its global reach and strengthened its financial performance. McMillon expressed gratitude to Walmart’s board, associates, customers, and the Walton family, calling his time as CEO “a great honour.”

Market Reaction and Future Outlook

Following the announcement, Walmart’s shares dropped around 3 per cent during pre-market trading, reflecting investor concerns about losing a long-serving leader.

Still, many view Furner as a strong and steady choice. His long experience within Walmart, combined with his operational and digital understanding, positions him well to continue the company’s momentum.

McMillon’s continued presence as an advisor and board member may help reassure investors and associates alike as Walmart enters a new chapter under new leadership.