The world’s largest retailer Walmart has confirmed that John Furner will take over as chief executive officer on 1 February 2026, succeeding Doug McMillon, who will retire on 31 January 2026 after more than a decade in the role.

The Bentonville-based retailer said Furner, 51, has been elected to the board with immediate effect. Furner has led Walmart US since 2019 and previously served as president and chief executive officer of Sam’s Club. He began his Walmart career in 1993 as an hourly associate and has held senior posts across merchandising, operations and sourcing.

Greg Penner, chairman of Walmart Inc., said: “John Furner is the right leader to guide Walmart into our next chapter of growth and transformation… John understands every dimension of our business – from the sales floor to global strategy. He has proven that he can deliver results while living our values.”

Penner added of McMillon: “Over more than a decade as CEO, Doug led a comprehensive transformation by investing in our associates, advancing our digital and eCommerce capabilities, and modernising our supply chain, resulting in sustained, robust financial performance.”

McMillon, 59, will remain on the board until the next annual shareholders’ meeting and act as an adviser through the 2027 fiscal year. Reflecting on his tenure, he said: “Serving as Walmart’s CEO has been a great honor… His curiosity and digital acumen combined with a deep commitment to our people and culture will enable him to take us to the next level. He’s uniquely capable of leading the company through this next AI-driven transformation.”

Furner said: “I am deeply honored by the trust the Board and family have placed in me to lead Walmart… As we enter a new retail era fueled by innovation and AI, our purpose and our people will continue to guide us.”

The transition follows a period of growth for Walmart, which reported roughly $681 billion in revenue last year and operates more than 10,750 stores and eCommerce sites in 19 countries.

During McMillon’s tenure, the company accelerated investment in online operations, built an advertising business and simplified international interests, including the sale of UK grocer Asda in a £6.8 billion deal in 2020. Shares initially fell in early trading on the news before recovering, with reports noting moves of around 2–3 per cent during the session.

Walmart said it will announce Furner’s successor as head of Walmart US before the end of the 2026 fiscal year. McMillon will continue to support the leadership handover, which the company described as a planned transition.

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