(Reuters) -Walmart on Friday announced that CEO Doug McMillon will retire next year and will be succeeded by insider and company veteran John Furner at a time when retailers navigate new challenges such as artificial intelligence and global tariffs.

Walmart shares were down nearly 2% in early trading, as some analysts noted McMillon’s retirement could have come earlier than expected. McMillon has led the world’s largest retailer for over a decade.

Here are some reactions to Walmart’s CEO change:

SCOT CICCARELLI, ANALYST AT TRUIST SECURITIES

“McMillon, now 59 years old, has been incredibly successful as he has orchestrated one of the biggest turnarounds in U.S. corporate history. Thus, it is difficult to argue that he won’t be missed.”

“Furner is taking over one of the most desirable s

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