Walmart CEO Doug McMillon to Step Down After Decade of Transformation

Walmart's Doug McMillon to Step Down as CEO After a Decade of Transformation Walmart announced on a Friday morning that its President and CEO Doug McMillon will retire effective January 31, 2026, marking the end of a decade-long tenure that significantly reshaped the retail giant's global strategy and digital presence. McMillon, 59, will be succeeded by John Furner, the current head of Walmart's U.S. operations, who will take over as president and chief executive officer starting February 1, 2026. During McMillon's tenure, Walmart's revenue grew from $476 billion in 2016 to $572 billion in 2022, a 20% increase. The company's e-commerce sales also surged, with online sales rising from $13.7 billion in 2016 to $44.2 billion in 2022, a 221% increase. Walmart's market capitalization has also expanded, reaching $430 billion in 2022, up from $250 billion in 2016. McMillon's leadership has been instrumental in Walmart's transformation into a more digital and omnichannel retailer. The company has invested heavily in e-commerce, logistics, and technology, which has enabled it to better compete with online retailers like Amazon. Walmart has also expanded its services, including grocery delivery, curbside pickup, and in-store pickup, to enhance the shopping experience for its customers. The retail landscape has undergone significant changes during McMillon's tenure, with the rise of e-commerce and the increasing importance of digital transformation. Walmart has navigated these changes successfully, but the company still faces intense competition from online retailers and other brick-and-mortar stores. The appointment of John Furner as CEO is seen as a strategic move to continue Walmart's digital transformation and to enhance its competitiveness in the retail market. Furner, who has been with Walmart for over 20 years, has a deep understanding of the company's operations and has been instrumental in driving its e-commerce growth. His appointment as CEO is expected to bring continuity and stability to the company, as it continues to navigate the rapidly changing retail landscape. Walmart's board of directors has elected Furner to the board, effective immediately. McMillon will remain on the board until the next annual shareholders meeting, to ensure a smooth transition. The company's stock price has reacted positively to the news, with shares rising by 2% in early trading. As Walmart looks to the future, it is expected to continue its focus on digital transformation, e-commerce growth, and enhancing the shopping experience for its customers. The company's new CEO, John Furner, will be tasked with building on McMillon's legacy and driving Walmart's continued success in the retail market.