Doug McMillon, who just announced his retirement, helped Walmart retain its top spot on the Fortune 500.

The longtime CEO will be succeeded by John Furner, the Walmart U.S. CEO, on Feb. 1.Both changes take effect then.

Doug McMillon is handing over the reins of America's largest retailer to John Furner.

Doug McMillon, who just announced his retirement, helped Walmart retain its top spot on the Fortune 500.

Walmart announced Friday that its president and CEO Doug McMillon is retiring and will be replaced by John Furner, president of Walmart U.S.

Doug McMillon is set to retire as Walmart CEO on Jan. 31, 2026. His career at the company started in 1984 as a high school student unloading trucks.