Overview
- Doug McMillon will step down as CEO on January 31, 2026, and John Furner will take over on February 1, 2026, joining the board effective immediately.
- McMillon will remain on the board until the next annual shareholders meeting and continue as an advisor to Furner through fiscal 2027.
- Walmart said it will name a new head of Walmart U.S. before the end of fiscal 2026 to ensure an orderly succession.
- Furner is a three-decade company veteran who has led Walmart U.S. since 2019 after previously serving as CEO of Sam’s Club.
- Walmart shares fell about 1.2% following the announcement as investors weighed the leadership change.