Walmart CEO Doug McMillon is retiring, stepping away in January after more than 10 years leading the world’s biggest retailer. The 59-year-old, who helped transform the company into a major online competitor, will hand the top job to longtime Walmart executive John Furner.
Furner, a true Walmart insider who started on the shop floor and now runs the company’s U.S. business, will officially take over on February 1, 2026.
A Big Leadership Shake-Up at a Crucial Time
McMillon’s departure comes as the retail industry navigates new tariffs, unpredictable spending, and rising economic pressure. Despite that, Walmart has continued to grow, boosted by its massive supply chain, strong grocery business, and a surge of high-income shoppers.
Walmart chairman Greg Penner praised McMillon’s decade-long leadership, saying he modernized the company by investing in employees, expanding online sales, and upgrading Walmart’s supply chain.
“Doug led a comprehensive transformation… resulting in sustained, robust financial performance,” Penner said.
The company brought in $680 billion in revenue last year, with a global network of more than 10,000 stores across 19 countries.
A Decade of Big Wins — and a Few Painful Misses
Under McMillon, Walmart experimented aggressively as it raced to keep up with Amazon. Some bets paid off, including Walmart’s thriving ecommerce operation and the steady growth of its Walmart+ subscription service.
Others didn’t. Walmart bought Jet.com for $3 billion only to shut it down years later. It also sold menswear brand Bonobos in 2023 at a loss after acquiring it in 2017.
Still, analysts say McMillon’s imprint on Walmart is undeniable.
“He’ll be remembered as a transformational leader,” said GlobalData’s Neil Saunders. “He took a strong business and made it stronger — which isn’t easy.”
McMillon will stay on Walmart’s board until June 2026 and serve as an adviser through fiscal year 2027.
Meet John Furner: Walmart’s New CEO
Furner, 51, has been viewed as McMillon’s likely successor for years. He has led Walmart’s U.S. business since 2019, helping the company navigate pandemic chaos, supply chain shortages, inflation, and this year’s sudden tariff shifts.
Sales in the U.S. rose nearly 5% last quarter, thanks in part to his leadership.
Furner joined Walmart as an hourly associate in 1993 and has held major roles at Sam’s Club and Walmart China. The company credits him with advancing digital innovation and improving store operations.
McMillon called Furner “uniquely capable” of guiding Walmart through its next chapter — especially as AI becomes a bigger part of retail.
Shares dipped about 2% after the announcement but recovered some ground later in the day.
