Walmart CEO Doug McMillon to retire in January
Walmart CEO Doug McMillon is retiring early next year, the company said Friday in a filing.
The longtime CEO will be succeeded by John Furner, the Walmart U.S. CEO, on Feb. 1.Both changes take effect then.
“John Furner is the right leader to guide Walmart into our next chapter of growth and transformation,” Walmart Chairman Greg Penner 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.”
For more than a decade, McMillon, 59, has led the retail giant and overseen the company’s growth as an e-commerce leader. He also oversaw the business during a tumultuous time marked by the Covid pandemic, supply chain disruptions and tariff changes.
During his time at the company, Walmart’s shares are up nearly 300%. The company’s stock fell more than 2% in premarket trading Friday.
“Serving as Walmart’s CEO has been a great honor and I’m thankful to our Board and the Walton family for the opportunity,” McMillon said in a statement. “I’ve worked with John for more than 20 years. … He’s uniquely capable of leading the company through this next AI-driven transformation.”
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