Walmart CEO Doug McMillon will retire effective Jan. 31, 2026, the company announced in a Friday morning surprise, concluding a decade-long tenure that reshaped the retail giant’s global strategy and digital presence.
John Furner, currently head of Walmart’s U.S. operations, will succeed McMillon as president and chief executive officer starting Feb. 1, 2026. Furner was also elected to the company’s board of directors, effective immediately. McMillon will remain on the board of directors until the next annual shareholders’ meeting, the company said, to help ensure a smooth transition.
“John Furner is the right leader to guide Walmart into our next chapter of growth and transformation,” Greg Penner, chairman of Walmart, said in a statement. “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.”
McMillon has served as chief executive of the U.S.’s largest retailer since 2013 and has seen the retailer’s stock quadruple in that time. For the entirety of his tenure, Walmart sat at No. 1 on the Fortune 500.
