Walmart CEO steps down after more than a decade

Doug McMillon is set to step down as president and CEO of Walmart, having spent more than a decade in the role, as the company announced it has elected John Furner as his successor. McMillon will retire on 31 January 2026, having taken up the role in 2014, but will remain on the board until the next annual shareholders’ meeting and help “ensure a smooth transition”.

Furner has served as president and CEO of Walmart U.S. since 2019, overseeing the company’s largest operating segment and more than 4,600 stores. 

He began his Walmart career as an hourly associate in 1993 and has held leadership roles across merchandising, operations and sourcing. He has also lived and worked in multiple countries and served as president and CEO of Sam’s Club U.S.. 

Greg Penner, chairman of Walmart Inc, said: “John Furner is the right leader to guide Walmart into our next chapter of growth and transformation. After starting as an hourly associate and being with us for over 30 years in a variety of leadership roles across all three of our operating segments, John understands every dimension of our business – from the sales floor to global strategy. 

“He has proven that he can deliver results while living our values. John’s six-year leadership of our Walmart U.S. business during a time of rapid change, marked by digital acceleration and strong associate engagement, has positioned us for continued success.”

He added: “On behalf of the board, I want to thank Doug McMillon for his extraordinary leadership and incredible impact he has had on our company. Our family and board have stated many times that Doug was uniquely qualified to be CEO at the necessary time for Walmart. 

“Over more than a decade as CEO, 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. He leaves Walmart stronger, more innovative, and better aligned with our purpose to help people save money and live better.”

McMillon said: “Serving as Walmart’s CEO has been a great honor and I’m thankful to our Board and the Walton family for the opportunity. I’m incredibly proud of what our associates accomplished and deeply grateful for their commitment to our customers, to each other and to the communities we serve. Thank you, everyone! 

“I’ve worked with John for more than 20 years. His love for our associates and this company runs deep. His curiosity and digital acumen combined with a deep commitment to our people and culture will enable him to take us to the next level. He’s uniquely capable of leading the company through this next AI-driven transformation. He’s a merchant, an operator, an innovator, and a builder. I know that our future is bright with his leadership.”

Furner concluded: “I am deeply honored by the trust the board and family have placed in me to lead Walmart, a company that has shaped my life and so many others. I’m grateful to Doug for his leadership and mentorship and the foundation that is built for our future. 

“As we enter a new retail era fueled by innovation and AI, our purpose and our people will continue to guide us. Together, we’ll find new ways to serve customers, support our associates, and strengthen the communities we call home.”