Walmart Inc. announced today that its Board of Directors has chosen John Furner, 51, to take over as President and CEO, succeeding Doug McMillon, 59.
McMillon, who assumed the top role at Walmart in February 2014, will officially retire on Jan. 31. He will remain as an executive officer and work as an advisor for Walmart until Jan. 31, 2027.
Furner has been serving as President and CEO of Walmart U.S. since 2019, managing the company’s largest segment with over 4,600 stores. He started his career at Walmart as an hourly associate in 1993 and has since taken on leadership roles in merchandising, operations, and sourcing.
Furner was also appointed to the company’s Board of Directors, effective immediately.
In a press release, Greg Penner, Chairman of Walmart Inc., stated, “John Furner is the right leader to guide Walmart into our next chapter of growth and transformation. 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. 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.”
McMillon said, “Serving as Walmart’s CEO has been a great honor and I’m thankful to our Board and the Walton family for the opportunity. I’m incredibly proud of what our associates accomplished and deeply grateful for their commitment to our customers, to each other and to the communities we serve. Thank you, everyone! I’ve worked with John for more than 20 years. His love for our associates and this company runs deep. His curiosity and digital acumen combined with a deep commitment to our people and culture will enable him to take us to the next level.”
Furner commented, “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.”
The company plans to announce Furner’s successor as CEO of Walmart U.S. before the end of FY2026.
Following the announcement, Walmart’s shares fell around 2% in premarket trading.
By CEO NA Editorial Staff
