Walmart CEO Doug McMillon to retire after more than a decade, longtime deputy to take over

Walmart chief executive Doug McMillon will step down in January after more than ten years leading the world’s largest retailer. The 59-year-old, who guided the company through a period of major digital transformation, will hand the role to John Furner, a veteran Walmart executive who began his career on the shop floor and currently oversees the company’s US operations.

McMillon’s departure comes during a period of steady growth for Walmart, even as the retail sector faces challenges from shifting consumer spending and new tariff pressures. The company reported around 670 billion dollars in revenue last year and continues to operate more than 10,000 stores across 19 countries.

Walmart chairman Greg Penner said McMillon leaves the company in a significantly stronger position than when he took over in 2014, a time when the rapid rise of e-commerce put the firm under intense pressure. Penner praised McMillon for leading a “comprehensive transformation” that modernized the supply chain, expanded digital capabilities, and deepened investment in employees.

During McMillon’s tenure, Walmart aggressively pursued online growth while streamlining its global portfolio. Some experiments fell short, including the acquisition and later sale of menswear brand Bonobos at a loss. Still, online sales have become one of Walmart’s most important growth engines, allowing the company to compete directly with e-commerce giants.

Retail analyst Neil Saunders of GlobalData said McMillon will likely be remembered as a transformative leader. “He’s taken a very good business and made it even better, which is a difficult thing to do,” Saunders said, noting that the retailer adopted a more nimble, “small business” mindset under McMillon as it sought to innovate quickly.

As part of the transition, McMillon will stay on as an adviser to Furner and remain on Walmart’s board until June 2026. In a statement, McMillon said it had been a “great honour” to serve as CEO and described his successor as “uniquely capable of leading the company through this next AI-driven transformation.”

Furner, 51, has led Walmart’s US business since 2019, navigating the company through pandemic-related supply chain disruptions and inflationary pressures. Under his leadership, Walmart has managed to keep prices competitive despite tariff changes and has gained market share from rivals. US sales rose nearly five percent in the most recent quarter.

Industry observers have long viewed Furner as the most likely candidate to take over the top job, given his deep experience in operations, merchandising, and store leadership. His appointment signals continuity as Walmart prepares for its next phase of digital and AI-driven growth.