Walmart’s president and CEO, Doug McMillon, has announced his plans to step down from his role on January 31, 2026, according to a statement from company officials.
John Furner, age 51, is set to take over the position of president and CEO starting February 1. McMillon, who is 59, will remain on the board until the next annual meeting to facilitate a smooth transition.
Furner has been with Walmart for over 30 years, starting as an hourly employee, noted Greg Penner, the chairman of the board.
“John Furner is the ideal leader to guide Walmart into its next chapter of growth and change,” Penner stated. “His experience across various leadership roles gives him a deep understanding of our business—from the sales floor to our global strategy.”
He went on to specify that Furner has consistently delivered results while embodying the company’s values. “John’s six years at the helm of Walmart U.S. has set us up for continued success amidst rapid changes marked by digital advancements and strong employee engagement,” Penner added.
Penner also acknowledged McMillon for his “exceptional leadership,” commending him for enhancing the company’s digital and e-commerce operations, modernizing its supply chain, and achieving strong financial outcomes.
In his own statement, McMillon expressed that it has been a “tremendous honor” to serve as CEO and thanked the board and the Walton family for their support.
He mentioned his long working relationship with Furner—over 20 years—and described him as “uniquely equipped to navigate the company through the upcoming AI-driven transformation.”
“He’s a merchant, a business owner, an innovator, and a builder. I’m confident that our future is bright with him at the helm,” McMillon added.
Furner expressed gratitude for the trust placed in him by the Board of Directors and his family, acknowledging McMillon’s leadership and the foundation laid for the future.
He emphasized, “Our purpose and our people will continue to guide us as we move into a new retail era fueled by innovation and AI. Together, we will uncover new methods to serve our customers, support our employees, and strengthen the communities we inhabit.”
McMillon has led Walmart as CEO since 2014 and managed the company’s U.S. operations since 2019, overseeing over 4,600 stores. The board has stated that McMillon will continue to serve on the board until June 2026 and will act as an advisor to Furner through the end of fiscal 2027.
Walmart is expected to announce Furner’s successor for the U.S. CEO position by the close of fiscal year 2026.
