Walmart Chief Executive Officer (CEO) Doug McMillon is retiring next year after running the discount retailer for the past 12 years.
McMillon will be succeeded by John Furner, the current head of Walmart’s U.S. division. The transition will take place on Feb. 1, 2026, the company said.
McMillon has led Walmart since February 2014. He will continue to serve as an executive officer of the company and be employed by Walmart as an advisor through Jan. 31, 2027.
Furner, 51, has been the CEO of Walmart’s U.S. business since 2019. In that role, he oversees more than 4,600 store locations and the largest private sector workforce in America.
Furner began his career at Walmart in 1993 as an hourly in-store associate.
During his tenure, McMillon, age 59, has led the retailer and positioned Walmart as an e-commerce leader.
He also oversaw the business during a tumultuous time that included the Covid-19 pandemic, supply chain disruptions, high inflation, and tariffs.
During McMillon’s time at the helm, Walmart’s shares have risen nearly 300%. So far in 2025, WMT stock has gained 12% to currently trade at $101.01 U.S. per share.
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