Walmart CEO Doug McMillon is retiring from his position after more than 15 years at the massive retailer, the company said Friday.

John Furner, 51 – a longtime employee who rose through the ranks after starting as a store associate in 1993 – will succeed him as president and chief executive on Feb. 1, 2026, Walmart said in a statement.

McMillon, 59, ran Walmart – the world’s largest private employer – as CEO for more than a decade. Under his lead, the company invested in store associates, focused on its e-commerce business and strengthened its supply chain.

John Furner (left) will succeed Doug McMillon (right) as president and CEO of Walmart.

Shares in Walmart fell 2.8% premarket.

“Our family and Board have stated many times that Doug was uniquely qualified to be CEO at the necessary

See Full Page