Leadership Transition at Walmart: CEO Doug McMillon Steps Down, John Furner to Take Over
Walmart has announced that its CEO, Doug McMillon, is set to retire on January 31, 2026. McMillon has been at the helm of the world’s largest retailer for over a decade, leading it through a significant digital transformation. His successor will be John Furner, the current president and CEO of Walmart U.S., who will assume the role of CEO on February 1, 2026.
McMillon, 59, has been instrumental in steering Walmart’s transition from a traditional brick-and-mortar giant to a formidable hybrid player capable of competing effectively with the likes of Amazon. During his tenure, Walmart’s market capitalization has grown from approximately $250 billion to over $800 billion today. The company’s stock has also seen a remarkable rise, increasing by 323% – a performance that significantly outperforms the S&P 500 index.
Furner, 51, is a seasoned Walmart veteran with three decades of experience within the company. He began his journey as an hourly associate in 1993 and has since climbed the corporate ladder, holding various leadership roles, including the CEO of Sam’s Club.
“John Furner is the right leader to guide Walmart into our next chapter of growth and transformation,” said Greg Penner, Walmart’s chairman.
The leadership transition comes at a time when retailers are grappling with tariff pressures, economic uncertainty, and evolving consumer spending patterns. Despite stepping down as CEO, McMillon will continue to serve on Walmart’s board through June 2026 and will act as an advisor through January 2027 to ensure a smooth transition.
Source: CNBC