Overview
- Doug McMillon will retire on January 31, 2026, and John Furner will take over as CEO on February 1, 2026.
- McMillon will remain on the board until the next annual shareholders’ meeting and serve as an advisor through January 31, 2027.
- Furner, 51, has led Walmart U.S. since 2019 after starting as an hourly associate in 1993, and he was elected to the board effective immediately.
- Walmart shares fell roughly 2% to 3% in premarket and early trading following the announcement.
- The company said it will name a new Walmart U.S. chief before the end of fiscal 2026, and earnings next week are expected to provide further guidance.