Overview
- McMillon will step down on Jan. 31, 2026, and Furner will become CEO on Feb. 1, 2026.
- Furner has been elected to the board effective immediately, and Walmart expects to name a new Walmart U.S. chief before the end of fiscal 2026.
- McMillon will remain on the board through June 2026 and serve as an adviser to Furner through Jan. 31, 2027, receiving $1.5 million annually per an SEC filing.
- Walmart shares fell roughly 2% to 3% in premarket trading following the announcement.
- The company highlights a continuity strategy for an AI-driven next phase, as Furner—who joined Walmart in 1993 and has led the U.S. unit since 2019—succeeds a CEO credited with e-commerce, supply chain and wage gains over the past decade.