Walmart CEO Doug McMillon to retire at 59 years old

Core Insights - Walmart CEO Doug McMillon will retire on January 31, 2026, after a decade of leadership that transformed the company's global strategy and digital presence [1] - John Furner, currently leading Walmart's U.S. operations, will take over as CEO starting February 1, 2026, and has been elected to the Board of Directors [2] Leadership Transition - Greg Penner, chairman of Walmart Inc., expressed confidence in Furner's ability to lead the company into its next growth phase, highlighting his extensive experience within the organization [3] - McMillon will remain on the Board of Directors until the next annual shareholders' meeting to facilitate a smooth transition [2] Performance and Growth - Under McMillon's leadership, Walmart's stock has quadrupled since 2013, maintaining its position as the top retailer on the Fortune 500 list [4] - Walmart's U.S. revenue increased by 4.7% to $462.42 billion last year, gaining market share from competitors like Target and Kroger [5] Employee Initiatives - Walmart has raised entry-level wages from $9 in 2015 to $14 by 2024 and has invested in employee training and college tuition assistance [6] - McMillon emphasized the company's commitment to environmental sustainability, achieving its goal of eliminating one gigaton of greenhouse gas emissions by 2023, six years ahead of schedule [6] Future Workforce Strategy - Furner is addressing challenges related to AI and the future workforce, indicating that Walmart plans to maintain its current employee count of approximately 1.6 million while enhancing productivity [7][8] - The company anticipates that as technology evolves, some jobs will be replaced by new roles, leading to better-paying positions and low attrition rates [9]