Walmart’s Sixth CEO: John Furner to Take the Helm as McMillon Steps Down

The world’s largest retailer announces a major leadership transition, marking only the sixth CEO change in its history

Bentonville, AR — When Walmart announced Thursday that Doug McMillon would retire as CEO after 11 years at the helm, it wasn’t just a changing of the guard. It was a signal of how seriously the retail giant is taking its next phase of transformation.

John Furner, currently President and CEO of Walmart U.S., will step into the top role effective February 1, 2026. He becomes only the sixth CEO in Walmart’s history, a remarkably short list for a company that’s been around since 1962.

McMillon’s Legacy: More Than Just Stock Gains

The numbers tell part of the story. Under McMillon’s watch, Walmart’s shares surged more than fourfold. But the deeper transformation happened in how Walmart competes.

When McMillon took over in 2014, Amazon was eating everyone’s lunch. Walmart was still largely a brick-and-mortar operation with a clunky digital presence. McMillon didn’t just respond. He rebuilt the company from the inside out.

The moves were bold: launching Walmart+ to compete directly with Prime, scaling the marketplace to rival Amazon’s third-party seller network, and pouring billions into supply chain modernization. But perhaps most significant was his investment in associates, raising wages and benefits for 2.3 million workers worldwide at a time when labor was getting squeezed everywhere else.

McMillon isn’t disappearing overnight. He’ll remain on Walmart’s Board of Directors until the June 2026 shareholders’ meeting and stay on as an advisor through January 2027. It’s a handoff designed for continuity, not disruption.

A Career Built From the Ground Up

Furner started as an hourly associate in 1993 at Store 100 in Bentonville, the company’s home turf. Thirty-two years later, he’s running the entire operation.

His path from store manager to merchandising leader to Sam’s Club CEO to head of Walmart U.S. gave him a comprehensive view of the business that few executives can match. He’s done nearly every job in the company.

His six years leading the U.S. division weren’t exactly smooth sailing. He navigated pandemic disruptions, inflation, labor shortages, and accelerating digital competition. Industry watchers credit him with strengthening omnichannel operations and fostering a culture that embraces experimentation, critical traits as retail gets more technology-driven by the quarter.

Chairman Greg Penner praised Furner as “the right leader to guide Walmart into our next chapter of growth and transformation.”

Furner, reflecting on his new role, said: “I am deeply honored by the trust the Board and family have placed in me to lead Walmart, a company that has shaped my life and so many others… As we enter a new retail era fueled by innovation and AI, our purpose and our people will continue to guide us. Together, we’ll find new ways to serve customers, support our associates, and strengthen the communities we call home.”

The AI Era Question

That mention of AI wasn’t throwaway language. The retail landscape Furner is inheriting looks nothing like the one McMillon stepped into in 2014.

AI is reshaping everything from inventory management to personalized marketing. E-commerce isn’t a side channel anymore. It’s the baseline expectation. Supply chains are more complex and vulnerable than ever. And customer expectations? They’re only getting harder to meet.

Walmart plans to name Furner’s successor as CEO of Walmart U.S. before the end of fiscal 2026, another sign that this transition has been carefully mapped out.

What It Means for Retail

When the world’s largest retailer changes leadership, everyone pays attention. Walmart’s moves ripple across the industry, from suppliers to competitors to technology vendors.

The question now: Will Furner accelerate McMillon’s digital transformation, or will he chart a different course? His track record suggests the former, but with his own stamp on it.

Retail’s biggest player is betting its future on someone who started at the bottom and learned the business from the inside. In an era of celebrity CEOs parachuting in from outside, that’s a statement in itself.