Walmart Inc. (NYSE:WMT) announced that its board of directors has chosen John Furner to become the company’s next president and chief executive officer, with his appointment set to take effect on February 1, 2026. Furner, 51, will take over from longtime CEO Doug McMillon, 59, who plans to retire on January 31, 2026.

Alongside the leadership transition, the board has also voted to add Furner to Walmart’s board of directors immediately. McMillon will continue serving as a director through the next annual shareholders’ meeting to help ensure a smooth handoff, the company said.

Furner currently heads Walmart U.S.—the retailer’s largest division, operating more than 4,600 stores. He joined Walmart in 1993 as an hourly employee and has since held numerous leadership roles spanning operations, merchandising, and sourcing. Before leading Walmart U.S., he served as president and CEO of Sam’s Club.

“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.”

McMillon, who has served as CEO for more than 10 years, praised his successor. “I’ve worked with John for more than 20 years. His love for our associates and this company runs deep,” McMillon said.

McMillon will remain on Walmart’s board until June and will advise Furner through fiscal year 2027. The company said it intends to name the next CEO of Walmart U.S. before the end of fiscal 2026.

Walmart ended fiscal year 2025 with $681 billion in revenue and employs roughly 2.1 million people around the globe.

Walmart stock price

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Some portions of this content may have been generated or assisted by artificial intelligence (AI) tools and been reviewed for accuracy and quality by our editorial team.