Walmart Inc.’s board of directors has elected John Furner to succeed Doug McMillon as president and CEO of Walmart Inc., effective Feb. 1.
Furner also was elected to the company’s board of directors, effective immediately. McMillon will retire on Jan. 31, but will remain on the board until the next annual shareholders’ meeting to ensure a smooth transition.
Furner has served as president and CEO of Walmart U.S. since 2019, overseeing the company’s largest operating segment and its more than 4,600 stores. He began his Walmart career as an hourly associate in 1993 and has held leadership roles across merchandising, operations and sourcing.
“John Furner is the right leader to guide Walmart into our next chapter of growth and transformation,” said Greg Penner, chairman of Walmart Inc.
“After starting as an hourly associate and being with us for over 30 years in a variety of leadership roles across all three of our operating segments, John understands every dimension of our business – from the sales floor to global strategy. He has proven that he can deliver results while living our values.
“John’s six-year leadership of our Walmart U.S. business during a time of rapid change, marked by digital acceleration and strong associate engagement, has positioned us for continued success.”
On behalf of the board, Penner went on to thank Doug McMillon for “his extraordinary leadership and incredible impact” he has had on the company.
“Our family and board have stated many times that Doug was uniquely qualified to be CEO at the necessary time for Walmart,” Penner said. “Over more than a decade as CEO, Doug led a comprehensive transformation by investing in our associates, advancing our digital and e-commerce capabilities and modernizing our supply chain, resulting in sustained, robust financial performance.
“He leaves Walmart stronger, more innovative and better aligned with our purpose to help people save money and live better.”
McMillon described serving as CEO as a great honor and an opportunity for which he’s grateful to the board and Walton family.
“I’m incredibly proud of what our associates accomplished and deeply grateful for their commitment to our customers, to each other and to the communities we serve,” he said. “I’ve worked with John for more than 20 years. 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. I know that our future is bright with his leadership.”
Furner has lived and worked in multiple countries and served as president and CEO of Sam’s Club U.S. He has championed associate development, digital innovation and operational excellence throughout his tenure.
“I am deeply honored by the trust the board and family have placed in me to lead Walmart, a company that has shaped my life and so many others,” he said.
“I’m grateful to Doug for his leadership and mentorship and the foundation that is built for our future. As we enter a new retail era fueled by innovation and AI, our purpose and our people will continue to guide us. Together, we’ll find new ways to serve customers, support our associates and strengthen the communities we call home.”
McMillon will stay on the board until June, in addition to staying on as an advisor to Furner through the 2027 fiscal year. The company plans to make an announcement on Furner’s successor as CEO of Walmart U.S. before the end of the 2026 fiscal year.
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