McMillon is on right. Furner (left) has served as President and CEO of Walmart U.S. since 2019, overseeing the company’s largest operating segment and its more than 4,600 stores (Walmart)
In a surprise announcement that marks the end of an era for the world’s largest retailer, Walmart Inc. revealed that CEO Doug McMillon will retire in February 2026 after more than a decade steering the company through seismic shifts in retail. McMillon, who ascended to the top role in 2014, has overseen Walmart’s pivot to e-commerce dominance, aggressive investments in automation, and expansions into healthcare and advertising—propelling annual revenues past $650 billion. The move comes amid robust growth, with Q3 2025 earnings showing a 5.3% sales bump, fueled by grocery strength and Walmart+ membership surges.
Board members elected John Furner, the 52-year-old president and CEO of Walmart U.S., as McMillon’s successor, effective Feb. 1, 2026. Furner, a 30-year company veteran who began as a teenager stocking shelves, brings deep operational savvy from leading the $420 billion U.S. division. Analysts praise the internal promotion for ensuring continuity in Walmart’s low-price strategy while navigating AI-driven supply chains and tariff threats. McMillon will advise the board through 2027, easing the transition.
Shares dipped 1.2% post-announcement, reflecting investor jitters over leadership change, but experts see stability ahead. As Furner inherits a resilient giant, questions swirl on accelerating digital innovation to counter Amazon’s grip. Walmart’s saga underscores retail’s evolution: from big-box behemoth to omnichannel powerhouse.