Walmart Inc. announced Friday that Doug McMillon will retire as president and CEO on Jan. 31, 2026, ending more than a decade in the company’s top leadership role.
The board of directors has elected John Furner, 51, to succeed him, effective Feb. 1, 2026. Furner was also appointed to the board immediately.
Furner has served as president and CEO of Walmart U.S. since 2019, overseeing more than 4,600 stores and the retailer’s largest operating division. He began his Walmart career as an hourly associate in 1993 and has held major leadership roles across operations, sourcing and merchandising.
McMillon, 59, will remain on Walmart’s board through the next shareholders’ meeting in June and will continue as an adviser to Furner through fiscal year 2027. The company said it will announce a new Walmart U.S. CEO before the end of the fiscal year.
“John Furner is the right leader to guide Walmart into our next chapter of growth and transformation,” board chairman Greg Penner said. He thanked McMillon for what he called “extraordinary leadership,” including major investments in employees, e-commerce expansion and modernization of the supply chain.
McMillon, who spent more than 30 years with the company, said serving as CEO has “been a great honor” and praised Walmart associates for their commitment. He described Furner a colleague for more than two decades as “uniquely capable” of leading Walmart through its next technology-driven transformation.
Furner said Walmart has shaped his life and career, adding that innovation, AI and a focus on people will define the company’s next era.
“Together, we’ll find new ways to serve customers, support our associates and strengthen the communities we call home,” he said.
WebReadyTM Powered by WireReady® NSI