Walmart has announced that CEO Doug McMillon will retire in January after over a decade of leading the retail giant. He will be succeeded by John Furner, the current CEO of Walmart U.S., effective February 1. Furner will also join the company’s board of directors on the same day.
McMillon expressed gratitude for his time at Walmart, stating, “Serving as Walmart’s CEO has been a great honor, and I’m thankful to our Board and the Walton family for the opportunity.” He praised Furner as a “merchant, an operator, an innovator, and a builder,” emphasizing his capability to guide the company through an impending AI-driven transformation. McMillon will continue to serve on Walmart’s board until the next annual shareholders meeting in June to help facilitate a seamless leadership transition.
Furner’s journey with Walmart began in 1993 as an hourly associate, demonstrating a remarkable career progression that led him to the helm of Walmart U.S. by 2019. As the largest private employer in the nation with over 4,600 stores, Walmart’s leadership change comes at a pivotal time as the company navigates the evolving retail landscape.
This news marks a significant chapter in Walmart’s history as it moves toward a future characterized by technological advancement. More updates will follow as the story develops.