Overview
- Furner, the Walmart U.S. chief since 2019, will take over as CEO on Feb. 1, 2026 and has been elected to the board effective immediately.
- McMillon will retire as CEO on Jan. 31, 2026, remain on the board until the next annual shareholders’ meeting, and advise Furner through Jan. 31, 2027.
- Walmart shares fell about 2% to 3% in premarket trading following the announcement.
- Under McMillon, Walmart accelerated e-commerce and AI efforts, expanded wages and benefits, and saw its stock rise roughly 300%.
- The company said it will name a new Walmart U.S. chief before the end of fiscal 2026, with next week’s earnings call expected to offer early insight into the transition.