Walmart CEO Doug McMillon is stepping down
Walmart President and CEO Doug McMillon is leaving his position early next year.
By Jordan Valinsky, CNN
New York (CNN) — 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 US 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 has roiled the industry’s bottom lines. Yet Walmart under McMillon has overcome many of the issues that have plagued competitors – its supply-chain dominance and grocery prowess has 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 who earn more than $100,000 a year.
McMillon also oversaw the company’s transition to a major ecommerce competitor, offering a strong alternative to Amazon and a significant growth engine for Walmart. The company has grown its Walmart+ subscription business that serves as a kind of nascent rival to Amazon Prime.
McMillion first began as a store associate and worked his way to top including stints at Sam’s Club and Walmart’s international operations. He helped harness Walmart (WMT) into being a true competitor to Amazon and its stock has grown 300% since he became CEO in 2014.
“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.”
As for Furner, he’s been the CEO and President of Walmart US’ 4,600 stores since 2019 and also began as an hourly associate in 1993. In addition, he’s worked at Sam’s Club and Walmart China. The company credited his “associate development, digital innovation, and operational excellence.”
Walmart said that McMillon remain on its board until next June and be an advisor to Furner throughout fiscal year 2027. An announcement on Walmart’s US CEO replacement will be named soon.
This is a developing story. It will be updated.
The-CNN-Wire
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