Walmart CEO Doug McMillon to Step Down in January

Walmart Inc. announced that Chief Executive Officer Doug McMillon will step down at the end of January 2026. His departure ends a 12-year tenure that transformed the company. John Furner, President and CEO of Walmart U.S., will succeed him on February 1, 2026.

A Legacy of Leadership

Doug McMillon, 59, started his Walmart career as a teenager unloading trucks. He became CEO in February 2014 and led Walmart through a major digital and cultural shift.

Under his leadership, annual revenue grew from $486 billion to $681 billion. The company expanded its online capabilities, modernized supply chains, and improved pay and benefits for workers. McMillon also pushed sustainability and social responsibility efforts.

During his tenure, Walmart’s stock gained more than 300%. Investors credit him with blending technology and strong retail fundamentals.

Furner Takes the Helm

Incoming CEO John Furner, 51, joined Walmart in 1993 as an hourly worker. He became head of Walmart U.S. in 2019, leading more than 4,600 stores and driving strong results despite a tough retail market.

Furner is widely viewed as a steady, people-focused leader. He blends operational experience with digital innovation and has earned strong internal support. He is also joining Walmart’s Board of Directors immediately.

Transition and Terms

McMillon will retire on January 31, 2026. He will stay on Walmart’s board until June 2026 and serve as an advisor through January 2027. His new agreement includes a $1.5 million annual salary and a non-compete clause running until January 2029.

After the news broke, Walmart’s stock dipped slightly. Investors expressed concern about McMillon’s exit but remain confident in Furner’s leadership.

What’s Next for Walmart

Furner is expected to focus on AI-driven operations, sustainability, and affordability. His approach builds on McMillon’s strategy to balance innovation with the company’s core mission: “Save money, live better.”

As Walmart enters this new phase, many see continuity rather than disruption. The leadership change signals the next stage in Walmart’s transformation into a modern global retailer.

More…

• https://www.nbcnews.com/business/business-news/walmart-ceo-mcmillon-retire-rcna243901
• https://www.cnbc.com/2025/11/14/retiring-walmart-ceo-started-out-unloading-trucks-in-high-school.html
• https://corporate.walmart.com/news/2025/11/14/walmart-announces-john-furner-as-president-and-chief-executive-o0