Summary
Doug McMillon, the chief executive of Walmart, will retire in January after over a decade in the role. He will be succeeded by John Furner, who currently leads Walmart's U.S. business. McMillon will stay on as an adviser and board member until June 2026.
Key Facts
- Doug McMillon is stepping down as Walmart's CEO in January.
- John Furner, who has been with Walmart for a long time, will take over as CEO.
- McMillon became CEO in 2014 and helped Walmart grow its online business.
- During his leadership, Walmart reduced some riskier international operations.
- McMillon will remain involved with Walmart as an adviser and board member until June 2026.
- Walmart's stock rose by about 14% this year, but shares fell on the news of McMillon's retirement.
- The leadership change comes amid challenges like new tariffs and changing consumer spending patterns.
