Walmart CEO McMillon to Retire in 2026, Furner Succeeds

Walmart Inc., the nation's largest retailer, announced Friday that Chief Executive Doug McMillon will retire at the end of January 2026 after more than a decade at the helm, with John Furner, the current head of its U.S. operations, set to succeed him on February 1.

The leadership transition, which surprised investors and contributed to a roughly 3 percent drop in Walmart's shares during premarket trading, comes as the company continues to adapt to a shifting retail environment marked by ecommerce competition, artificial intelligence advancements and economic pressures on consumers. McMillon, 59, has led Walmart since February 2014, guiding it through significant changes that boosted annual revenue from $485.7 billion to $681 billion in the most recent fiscal year. Under his stewardship, the retailer expanded its digital capabilities to compete with rivals like Amazon, modernized its supply chain and invested heavily in its workforce, including wage increases, enhanced parental leave and educational programs offering certificates or degrees to employees.

"Over more than a decade as CEO, Doug led a comprehensive transformation by investing in our associates, advancing our digital...