Walmart CEO Doug McMillon to retire; John Furner named successor
15 Nov 2025

Walmart has announced that its long-serving CEO, Doug McMillon, will retire next year. The decision comes after more than a decade of his leadership at the world's largest retailer.

McMillon, 59, has been instrumental in transforming Walmart into a tech-driven retail giant since taking over as CEO in 2014.

His retirement is effective January 31, 2026.

Furner is a long-time insider at Walmart
Succession plan

John Furner, currently the head of Walmart's US operations, has been named as McMillon's successor.

A long-time insider with nearly three decades at Walmart under his belt, Furner has held senior positions in merchandising, operations and sourcing.

He was also the president and CEO of Sam's Club before taking over as the head of Walmart US in 2019.

McMillon's legacy and future role at Walmart
Transition details

McMillon joined Walmart in 1984 as an hourly associate and has held leadership positions across all three divisions: US, International, and Sam's Club.

He will continue to work as an advisor to the company until January 31, 2027.

Under his leadership, Walmart's stock has risen by an impressive 323%, outperforming the S&P 500 index.

Walmart's stock reacts to leadership change
Market response

Walmart's shares fell by 2.5% in early trading, amid fears that McMillon's retirement was announced sooner than expected.

Chuck Grom, an analyst with Gordon Haskett, said the announcement could cause some anxiety among shareholders given McMillon's successful tenure as CEO.

He said, "Given that Mr. McMillon was unequivocally Walmart's best CEO since the company's founder in Sam Walton ... the announcement will likely cause some anxiety by shareholders."

Furner's appointment amid retail sector leadership changes
Industry shifts

Furner is only the sixth person to lead Walmart since its founding in 1962.

His appointment comes as part of a wave of leadership changes sweeping through the retail sector, with companies grappling with tariff pressures and an uncertain economy.

Other retailers like Kohl's, Kroger, and Target have also appointed new CEOs this year.