Walmart is preparing for one of its biggest leadership transitions in years as longtime chief executive Doug McMillon steps down in January after more than a decade at the helm of the world’s largest retailer. The company confirmed that John Furner, the retail giant veteran who started as an hourly associate and currently leads Walmart US, will take over as CEO on February 1, 2026. McMillon, who first took on the top role in 2014, guided Walmart through a transformative era—expanding the retailer’s digital and e-commerce capabilities, streamlining its global operations, and strengthening supply chain resilience. Under his leadership, the retail giant evolved into a serious e-commerce competitor, building out services like Walmart+ and making strategic technology investments that helped the company keep pace with changing consumer behavior.
Transformations Under Doug McMillon
Walmart chairman Greg Penner praised McMillon for driving a “comprehensive transformation” that modernized the business, empowered associates, and delivered consistent financial strength. Walmart generated roughly $670 billion in annual revenue last year and operates more than 10,000 stores across 19 countries.
Even though the retail giant was growing quickly, McMillon often pushed the company to act like a smaller one—trying out new ideas, playing with online shopping, and rethinking product categories. The company grew a lot while he was in charge, even though not every decision he made worked, including buying Jet.com and Bonobos for a lot of money. Analysts describe him as a transformational leader who took an already powerful company and made it stronger and more competitive.
McMillon will continue serving on Walmart’s board until June 2026 and act as an adviser to his successor to ensure a smooth transition.
John Furner Steps In to Lead the Next Chapter
John Furner has been a significant figure in Walmart’s US business since 2019, handling major issues such supply chain challenges during the pandemic, rising prices, and changing tariffs. During his tenure as CEO, Walmart enhanced its appeal to consumers across all income brackets. Sales rose by over 5% in the last quarter, and the store attracted more high-income shoppers than ever before.
Furner, now 51, has been widely seen as the natural successor to McMillon. His three-decade journey across the world’s largest retail divisions—from Sam’s Club to the world’s largest retail China—has shaped him into a leader focused on digital innovation, associate development, and operational excellence. The company believes these qualities uniquely position him to guide the world’s largest retail through what McMillon describes as the next “AI-driven transformation.”
Walmart’s stock, up about 14% this year, dipped around 2% following the announcement but later regained some ground as investors processed the long-anticipated change.
As Walmart prepares for the next chapter, the transition reflects continuity: another homegrown leader rising through the ranks to lead one of the world’s most influential companies through rapidly evolving retail landscapes.