Walmart CEO Doug McMillon will retire on January 31, 2026, after leading the company since 2014. John Furner, currently the head of Walmart's U.S. operations, will succeed him as CEO on February 1, 2026. This announcement was unexpected and caused a 3% drop in Walmart's stock in premarket trading.
During McMillon's tenure, he oversaw a significant transformation of Walmart, investing in employees through higher wages and educational opportunities, and enhancing the company's digital and e-commerce capabilities. He also focused on modernizing the supply chain and integrating technology like artificial intelligence. These strategic moves have resulted in substantial financial growth for Walmart, with annual revenue increasing from $485.7 billion to $681 billion and its stock price rising significantly.
Walmart Chairman Doug Penner credited McMillon with strengthening the company, making it more innovative, and better aligning it with its core mission. Penner highlighted Furner's extensive experience within Walmart, spanning over 30 years in various leadership roles across all segments of the business, including his six years leading U.S. operations.
