Walmart has confirmed that long-serving chief executive Doug McMillon will retire early next year, with Walmart US CEO John Furner set to assume the top role from 1st February 2026.
According to a regulatory filing, McMillon will step down on 31st January after more than a decade at the helm. He will continue with the company as an executive officer and adviser until January 2027.
Furner, who began his Walmart career as an hourly associate in 1993, has led the retail giant’s US operations since 2019, overseeing more than 4,600 stores and its largest business division. Walmart chair Greg Penner said he was “the right leader to guide Walmart into the next chapter of our growth and transformation”, noting his more than 30 years of experience across the organisation.
McMillon, who also started as an hourly associate before becoming CEO in 2014, has guided the company through a period of rapid e-commerce expansion, pandemic disruptions and inflationary pressures. He said serving as chief executive had been “a great honour”, and added that he had worked closely with Furner for over two decades, describing him as “uniquely capable of leading the company through this next AI-driven transformation”.
In 2021, Walmart sold most of its stake in Asda to UK investors—the Issa brothers and TDR Capital—while retaining a 10% holding and a seat on the board. Earlier this year, Asda announced it had completed its long-running IT overhaul, ending dependence on Walmart’s legacy systems under Project Future.
McMillon also recently stated that Walmart is on track to source US $ 10 billion worth of goods from India by 2027, covering categories such as apparel. The initiative is expected to benefit more than 70,000 MSMEs involved in production and trained in digital readiness, export capability and business skills, particularly in Tier-2 and Tier-3 cities.
