Walmart announced Friday that CEO Doug McMillon will retire Jan. 31, 2026, ending an 11-year tenure leading the world’s largest retailer. John Furner, 51, president of Walmart U.S., assumes the CEO role Feb. 1, 2026. Walmart shares fell 3% in premarket trading but recovered to close down 1%. The transition marks the fifth CEO change in Walmart’s 63-year history.[1][2][3][4][5][6]
John Furner Will Lead Walmart’s Next Chapter
Furner brings 32 years of Walmart experience to the CEO role. He started in 1993 as an hourly garden center associate in Bentonville, Arkansas, earning money for college. After graduating from the University of Arkansas with a marketing management degree in 1996, he advanced through store operations, international markets, and executive leadership.[2][7][8][9]
Furner’s Career Progression at Walmart
- 1993-2013: Store management and operations roles across United States
- 2013-2015: China merchandising and marketing leader in Shenzhen[9][10][2]
- 2017-2019: Sam’s Club CEO, delivered 11 consecutive quarters of positive sales[11][2][9]
- 2019-Present: Walmart U.S. president, overseeing 4,615 stores and 1.5 million employees[12][1][2]
“John understands every dimension of our business, from the sales floor to global strategy,” said Greg Penner, Walmart chairman. Furner joined the board immediately. McMillon remains on the board until June 2026 and advises through January 2027.[1][2]
McMillon Delivered Transformation During Decade-Long Leadership
McMillon, 59, started at Walmart in 1984 as a summer warehouse worker while attending high school. He earned accounting and MBA degrees before becoming CEO in February 2014, succeeding Mike Duke.[13][14][15][16][17]
Financial Performance Under McMillon’s Leadership
| Metric | 2014 | 2025 | Growth |
|---|---|---|---|
| Revenue | $485.7B | $681B | +40% |
| Stock Price | ~$25 | ~$107 | +328% |
| E-commerce Sales | $9.6B | $148.6B | +1,450% |
Sources: Corporate filings, MarketBeat, Digital Commerce 360[18][19][20][21][1]
McMillon invested $2.7 billion in 2015 to raise wages and expand education programs for hourly workers. The move initially erased $21.5 billion in market value when sales forecasts dropped, but the company recovered through sustained growth and improved retention.[22][23][24]
Digital Strategy Competed With Amazon’s Dominance
McMillon acquired Jet.com for $3 billion in 2016, launched Walmart+ membership in 2020, and converted thousands of stores into fulfillment centers. E-commerce sales grew from $9.55 billion in 2016 to $148.59 billion in 2025.[17][20][25][26][27]
By August 2025, one-third of deliveries arrived within three hours. Walmart expanded high-margin revenue through advertising and third-party marketplace platforms. Over five years, Walmart stock doubled Amazon returns and outperformed the S&P 500.[10][23][24][28][29][30][22]
Firearm Policy Changed After Mass Shootings
In September 2019, Walmart stopped selling handgun ammunition and short-barrel rifle ammunition after mass shootings in El Paso (23 deaths, Aug. 3) and Odessa (7 deaths, Aug. 31), Texas. The company also requested customers not openly carry firearms in stores.[24][31][32][33][34]
Furner Inherits Challenges in Retail Landscape
Walmart operates 10,750+ stores in 19 countries, employs 2.1 million associates, and serves 270 million weekly customers.[3][5][2][12][18][1]
President Donald Trump’s April 2025 tariffs created retail volatility, though November saw rollbacks on beef, coffee, and tropical fruits. Walmart absorbed costs but warned of price increases.[23][31][35][36][37][38][39][22][24]
Furner must integrate artificial intelligence across operations. McMillon established AI foundations, and Walmart partnered with OpenAI in November 2025 for ChatGPT shopping integration.[29][10]
Walmart reports Q3 fiscal 2026 earnings November 20, 2025, where Furner will outline priorities.[5][40]
Analysts Expect Smooth Transition
TD Cowen analyst Oliver Chen called McMillon “a visionary” who “connected with people extraordinarily well.” Telsey Advisory Group noted McMillon “transformed Walmart into an even bigger e-commerce powerhouse.” GlobalData’s Neil Saunders described Furner as “a strong leader” with proven U.S. business success.[41][24]
Former executives expect continuity. “The biggest change is continuing to evolve technology’s role,” said retail consultant Scott Benedict. Walmart will announce Furner’s U.S. successor before fiscal 2026 ends.[2][5][10][1]
