Long-term Walmart CEO exits, head of US business takes helm
John Furner, incoming president and CEO of Walmart. Credits: Walmart.
US retail chain Walmart has announced the scheduled departure of its current president and chief executive officer, Doug McMillon. The executive, who took up the helm of the company in 2014, will retire effective January 31, 2026.
John Furner has been named as McMillon’s successor. Furner has also been elected to the board of directors, a position he will take up immediately. McMillon will remain on the board until the next annual shareholder meeting in June 2026 and will stay on as an advisor to Furner through FY27.
McMillon first joined Walmart in 1984, moving up the ranks in roles of increasing responsibility, eventually leading all of Walmart’s divisions: US, international and Sam’s Club.
His career trajectory mirrors that of his successor, Furner, who has been serving as president and CEO of Walmart US since 2019. Prior to this, Furner, another veteran of the company, where he has been since 1993, was president and CEO of Sam’s Club US. Furner’s own successor at Walmart US will be announced before the end of FY26.
In a statement, Greg Penner, chairman of Walmart Inc., called Furner “the right leader to guide Walmart into our next chapter of growth and transformation”. His over 30 years of experience with the company allows him to understand every dimension of the business, Penner added, while his six-year leadership of Walmart US “during a time of rapid change”, “has positioned us for continued success”.
Penner went on to thank McMillon for his leadership and impact on the company. “Over more than a decade as CEO, Doug led a comprehensive transformation by investing in our associates, advancing our digital and e-commerce capabilities, and modernising our supply chain, resulting in sustained, robust financial performance,” he continued.
In his own statement, Furner added: “As we enter a new retail era fueled by innovation and AI, our purpose and our people will continue to guide us. Together, we’ll find new ways to serve customers, support our associates, and strengthen the communities we call home.”