Walmart CEO Doug McMillon is set to retire next year, marking the end of a transformative era for the retail giant. The company announced on Friday that McMillon will step down from his role on February 1, 2026, and will be succeeded by John Furner, the current CEO and president of Walmart’s US operations. This leadership transition comes at a pivotal moment for the retail industry, as Walmart continues to navigate shifting consumer trends, economic challenges, and fierce competition.
Doug McMillon’s tenure as CEO has spanned just over a decade, during which he led Walmart through a period of significant growth and innovation. Under his leadership, Walmart not only maintained its dominance in the grocery and supply chain sectors but also emerged as a major force in ecommerce, challenging Amazon’s long-standing supremacy. McMillon’s strategic vision helped Walmart adapt to the digital age, launching initiatives like Walmart+, a subscription service that rivals Amazon Prime and has become a key driver of customer loyalty and revenue.
Walmart now retiring CEO Doug McMillon on his reinvention playbook:
(V/@YahooFinance archive) pic.twitter.com/MBfTrKDvxX— Brian Sozzi (@BrianSozzi) November 14, 2025
McMillon’s journey with Walmart began at the grassroots level. He started as a store associate and steadily climbed the corporate ladder, holding leadership roles at Sam’s Club and in Walmart’s international operations. His hands-on experience and deep understanding of the company’s culture allowed him to implement changes that resonated with both employees and customers. McMillon’s focus on investing in associates, modernizing the supply chain, and advancing digital capabilities has been credited with Walmart’s sustained financial success. Since he became CEO in 2014, Walmart’s stock has surged by 300%, a testament to his effective leadership.
The retail landscape has faced numerous challenges in recent years, including rising tariffs, fluctuating consumer sentiment, and increased competition. Despite these headwinds, Walmart has managed to thrive under McMillon’s guidance. The company’s ability to offer low prices on essential goods has attracted a broad customer base, including households earning more than $100,000 annually. Walmart’s recent earnings call highlighted this demographic as its fastest-growing segment, underscoring the company’s appeal across income groups.
Greg Penner, Chairman of Walmart Inc., praised McMillon’s contributions in a press release, stating, “Doug was uniquely qualified to be CEO at the necessary time for Walmart. He led a comprehensive transformation by investing in our associates, advancing our digital and eCommerce capabilities, and modernizing our supply chain, resulting in sustained, robust financial performance.”
John Furner, McMillon’s successor, brings a wealth of experience to the role. Furner has been at the helm of Walmart’s US operations since 2019, overseeing the company’s 4,600 stores. Like McMillon, Furner began his career as an hourly associate in 1993 and has held various leadership positions, including roles at Sam’s Club and Walmart China. The company has recognized Furner’s strengths in associate development, digital innovation, and operational excellence, making him a natural fit for the top job.
As McMillon transitions out of his CEO role, he will remain on Walmart’s board until June 2026 and serve as an advisor to Furner through fiscal year 2027. This extended involvement ensures a smooth leadership transition and allows McMillon to continue sharing his expertise with the company he helped shape.
Walmart’s announcement of McMillon’s retirement marks the end of an era, but it also signals the beginning of a new chapter for the retail giant. With Doug McMillon’s legacy firmly established, Walmart is poised to build on its success and continue its mission of serving customers and communities worldwide.