On November 15, 2025, Walmart announced that Doug McMillon will retire at the end of January next year after serving as the company’s CEO for nearly 12 years. McMillon, who is 59 years old, has been the chief executive officer of the American retail giant since February 2014. Following his official retirement on January 31, McMillon will remain on the company’s board until June next year and will serve as a consultant to the next CEO until the end of the 2027 fiscal year on January 31, 2027.
John Furner, currently the President and CEO of Walmart’s largest business segment, Walmart U.S., will succeed McMillon as the CEO. Furner, 51, has been with Walmart for over thirty years, holding various leadership positions within the company.
Furner joined Walmart in 1993 as a store associate. Since 2019, he has been serving as the President and CEO of Walmart U.S., overseeing over 4,600 Walmart stores. He has also worked in Walmart’s Sam’s Club and Walmart China business units.
The successor for the role of President and CEO of Walmart U.S. will be announced later.
While McMillon will become one of the longest-serving CEOs in Walmart’s history at the time of his scheduled retirement on January 31, his departure comes earlier than expected. During his tenure as CEO of Walmart, McMillon accelerated delivery speed utilizing the company’s extensive physical store network, introduced automation in warehouse management, and expanded Walmart’s market and advertising business to increase revenue. He also drove the development of Walmart’s e-commerce business, aiming to compete with the e-commerce giant Amazon, which dominates the online retail market. This transformation has become a significant growth engine for Walmart’s business.
Since McMillon took office, Walmart’s stock price has risen by over 300%, and its market value has more than tripled, reaching the current $817 billion.
In a statement released on Friday, McMillon expressed confidence in Furner’s ability to lead the company in the next phase of AI-driven transformation.
Walmart’s announcement of this significant leadership change comes shortly before the company is set to report its quarterly earnings in six days. As of Thursday’s closing, Walmart’s stock price has already risen by 13% this year.