Walmart CEO Doug McMillon to retire after more than a decade in role

Walmart CEO Doug McMillon volition discontinue successful January 2026, the retail elephantine announced connected Nov. 14.

John Furner, the existent president and CEO of Walmart's U.S. division, volition win McMillon.

"Our household and Board person stated galore times that Doug was uniquely qualified to beryllium CEO astatine the indispensable clip for Walmart,"  said Greg Penner, Chairman of Walmart Inc., successful a quality release.

McMillon, 59, has served successful the station since 2014. He volition discontinue connected Jan. 31, 2026, and Furner volition instrumentality implicit arsenic CEO connected Feb. 1, 2026.

The announcement comes earlier the institution is slated to merchandise its quarterly net connected Nov. 20. In the 2nd 4th of the year, Walmart topped income estimates, but missed adjusted net per stock forecasts for the archetypal clip since May 2022.

McMillon, who archetypal worked astatine Walmart arsenic an hourly subordinate successful 1984, was appointed president and CEO successful 2014 aft serving successful the aforesaid relation for Walmart International.

He volition stay connected the company's committee of directors until its adjacent yearly shareholders' gathering successful June to "help guarantee a creaseless transition," the institution said. After that, McMillon volition enactment connected arsenic an advisor to Furner until Jan. 31, 2027.

"Serving arsenic Walmart’s CEO has been a large grant and I’m thankful to our Board and the Walton household for the opportunity," McMillon said successful a statement.

Furner, who is acceptable to commencement arsenic CEO connected Feb. 1, 2026, has besides been appointed to Walmart's committee of directors, effectual immediately.

The 51-year-old has served arsenic president and CEO of Walmart U.S. since 2019, overseeing the company’s largest operating segment. He began his Walmart vocation arsenic an hourly subordinate successful 1993 and antecedently served arsenic president and CEO of Sam’s Club U.S.

“After starting arsenic an hourly subordinate and being with america for implicit 30 years successful a assortment of enactment roles crossed each 3 of our operating segments, John understands each magnitude of our concern – from the income level to planetary strategy," said Greg Penner, president of Walmart Inc., successful a statement.

Furner said helium was "deeply honored by the spot the Board and household person placed successful maine to pb Walmart, a institution that has shaped my beingness and truthful galore others."

"As we participate a caller retail epoch fueled by innovation and AI, our intent and our radical volition proceed to usher us," Furner said.

Melina Khan is simply a nationalist trending newsman for USA TODAY. She tin beryllium reached at [email protected]. 

This nonfiction primitively appeared connected USA TODAY: Walmart CEO Doug McMillon to retire, John Furner to win him