Walmart CEO to Retire in 2026

Doug McMillon, CEO and President of Walmart (Bentonville, Ark.), is set to retire from the company Jan. 31, according to a press release released Friday. McMillon has been in the role since 2014. John Furner, current Walmart U.S. President and CEO, was elected by the board of directors to take over McMillon’s role Feb. 1.

McMillon will remain on the board of directors until June and serve as an adviser to Furner until January 2027.

“I’ve worked with John for more than 20 years,” McMillon said in a statement. “His love for our associates and this company runs deep. His curiosity and digital acumen combined with a deep commitment to our people and culture will enable him to take us to the next level. He’s uniquely capable of leading the company through this next AI-driven transformation. He’s a merchant, an operator, an innovator, and a builder.”

McMillon first joined the retailer in 1984 as an hourly associate. Furner also first joined the retailer as an hourly associate in 1993. Furner has held leadership roles in merchandising, operations and formerly served as President and CEO of Sam’s Club U.S.