On November 14, Walmart Inc. announced that Doug McMillon, the company’s current Chief Executive Officer and President, will step down from his roles on January 31, 2026. The magnitude of this change is of a tremendous degree, given Walmart’s position is the American market as the biggest retail brand.
The baton would be passed on to the President and CEO of Walmart U.S., John Furner, who will step into the position on February 1 next year. This will mark the end of McMillion’s ten-year long tenure, during which he has led various executive, operational, and business decisions that were crucial to the company’s growth. The announcement of this news had an impact on the market as Walmart’s shares was down on Friday morning.
John Furner to lead Walmart as CEO next year
CEO Doug McMillon’s successor began his career as an an hourly associate at Walmart in 1993. Since then, John Furner has been in leadership positions in the departments of merchandising, sourcing, and operations. As of now, he oversees Walmart’s largest operating segment with over 4,600 outlets under his purview. With his new position, Furner would be the fifth CEO of the retail brand.
According to the statement released by the official Walmart Inc. website, Furner has shared a not of gratitude to the company for their unwavering support towards him. He wrote, “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.” In addition, Furner also thanked McMillon for “his leadership and mentorship and the foundation that is built for our future.“
In his note, Furner also made a point to shed light on the advent of AI technologies in our day to day lives,. He wrote, “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.”
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Doug McMillon’s decade-long journey at Walmart
On January 31, 2026, Doug McMillon will leave an indelible impression on the corporate history of Walmart Inc. as one of its most successful executives. His goal-driven approach and unparalleled business acumen had helped Walmart survive commercial and financial challenges during his tenure.
When he first stepped in to the ranks in 2014, Walmart was already facing issues of stagnation in terms of sales, the overwhelming growth of the brand, general dissatisfaction among employees and outlets in disarray.
During his tenure as CEO, McMillon raised hourly rates of the workers, invested in making improvements in the Walmart’s stores and prioritized e-commerce to counter giants like Amazon. By putting first the welfare of its workforce and building the brand’s reputation, McMillon’s efforts led to unprecedented success.
Under his leadership, the company’s shares rose over 400 per cent on a total return basis. Additionally, Walmart made around $576 billion in market capitalization, as per The Wall Street Journal. The company’s annual revenue gradually surpassed the $680 billion mark.
These are some of the many achievements that Doug McMillon attained during his tenure as CEO and President of Walmart Inc. Although there are many more instances that exemplify his leadership skill, McMillon’s steadfastness and farsighted outlook helped pull Walmart from the abyss of stasis to become one of the major names in the retail industry today.
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