- Title: Walmart CEO Doug McMillon to retire, insider John Furner named top boss
- Date: 14th November 2025
- Summary: BELEM, PARA, BRAZIL (NOVEMBER 13, 2025) (REUTERS) VARIOUS OF DELEGATES WALKING AROUND PAVILIONS AT COP30 VENUE INDONESIA PAVILION VARIOUS OF WORLD RESOURCE INSTITUTE CHIEF EXECUTIVE OFFICER TALKING TO COLLEAGUES (SOUNDBITE) (English) WORLD RESOURCE INSTITUTE CHIEF EXECUTIVE OFFICER, ANI DASGUPTA, SAYING: "World leaders travelled all the way to Belem and really had a po
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- Keywords: Arkansas Bentonville CEO Doug McMillon John Furner Walmart retire
- Location: VARIOUS
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- Country: US
- Topics: Company News Markets,Economic Events,North America
- Reuters ID: LVA005207614112025RP1
- Aspect Ratio: 16:9
- Story Text: Walmart announced on Friday (November 14) that CEO Doug McMillon will retire next year after more than a decade leading the world’s largest retailer, as the company navigates new challenges such as artificial intelligence and global tariffs.
McMillon, 59, will be replaced by U.S. division chief CEO John Furner, 51, a veteran with three decades at the company.
Walmart's shares fell 2.5% in early trading, in part due to concerns that McMillon's decision to step down came sooner than anticipated.
McMillon, who joined Walmart in 1984 as an hourly associate, has served in leadership roles at all three Walmart divisions: U.S., International, and Sam's Club. He rose through the ranks to become CEO of Walmart in February 2014, replacing Mike Duke.
Walmart on Friday said McMillon will retire in January next year, but continue to be employed as an adviser of the company through January 31, 2027. The Bentonville, Arkansas-based retailer's stock has risen 323% since he took over, outperforming the S&P 500 index.
"Given that Mr. McMillon was unequivocally Walmart's best CEO since the company's founder in Sam Walton ... the announcement will likely cause some anxiety among shareholders, particularly since the change was a bit earlier than anticipated," said Chuck Grom, an analyst with Gordon Haskett.
The list of people who have held Walmart's top job since its 1962 founding is a short one; Furner will be only the sixth person to lead the company, with each of the previous CEOs lasting six years or more.
"Doug McMillon has been a terrific CEO, leading Walmart’s transformation into an even bigger and stronger retail powerhouse fueled by technology," said Joseph Feldman, an analyst with Telsey Advisory Group. "John Furner is the logical choice to be the next CEO. He is a lifer at Walmart who started as an hourly associate in 1993, so he is a good cultural fit," he added.
The move is the latest in a string of leadership changes sweeping through the retail sector as companies tackle tariff pressures, an uncertain economy, and a choppy consumer spending backdrop. Kohl's, Kroger, and Target are among retailers that have named new CEOs this year.
Furner has been CEO of Walmart U.S since 2019. He joined Walmart as an hourly associate around three decades ago and has held leadership roles across merchandising, operations, and sourcing, the company said. He has also previously served as president and CEO of Sam's Club.
The company reports third quarter quarterly results next week.
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