Longtime Walmart president and CEO Doug McMillon will step down from his roles on January 31, 2026, company officials announced Friday.
John Furner, 51, will replace McMillon, 59, as president and CEO effective February 1, with McMillon to remain on the board of directors “until the next annual shareholders meeting and help ensure a smooth transition,” the statement said.
Furner started with the company over 30 years ago as an hourly associate, board chairman Greg Penner said.
“John Furner is the right leader to guide Walmart into our next chapter of growth and transformation,” he said in a statement. “After starting as an hourly associate and being with us for over 30 years in a variety of leadership roles across all three of our operating segments, John understands every dimension of our business – from the sales floor to global strategy.”
“He has proven that he can deliver results while living our values,” he continued. “John’s six-year leadership of our Walmart U.S. business during a time of rapid change, marked by digital acceleration and strong associate engagement, has positioned us for continued success.”
Penner went on to thank McMillon for his “extraordinary leadership and incredible impact,” and credited him with advancing the company’s digital and eCommerce capabilities and “modernizing” the supply chain, “resulting in sustained, robust financial performance.”
McMillon also released a statement saying 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 went on to say that he has worked with Furner for more than two decades, calling him “uniquely capable of leading the company through this next AI-driven transformation.”
“He’s a merchant, an operator, an innovator, and a builder. I know that our future is bright with his leadership,” McMillon added of Furner.
Furner said, “I am deeply honored by the trust the Board and family have placed in me to lead Walmart, a company that has shaped my life and so many others. I’m grateful to Doug for his leadership and mentorship and the foundation that is built for our future.”
“As we enter a new retail era fueled by innovation and AI, our purpose and our people will continue to guide us,” he continued. “Together, we’ll find new ways to serve customers, support our associates, and strengthen the communities we call home.”
McMillon has served as president and CEO since 2014, and Furner has been the CEO of the company’s U.S. business since 2019, overseeing more than 4,600 stores, according to CNBC.
The company noted that McMillon will stay on the board until June 2026, and will stay on as an advisrr to Furner through the 2027 fiscal year.
Furner’s successor as CEO of Walmart U.S. is expected to be announced before the end of the 2026 fiscal year.
Olivia Rondeau is a politics reporter for Breitbart News based in Washington, DC. Find her on X/Twitter and Instagram.
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