Walmart and Target are both getting new CEOs—one succession plan has gone smoother than the other

Core Insights - The article discusses the CEO succession planning of Walmart and Target, highlighting the differences in their leadership transitions and performance metrics [1][6]. Company Performance - Walmart has seen a significant increase in its stock price, rising 300% under CEO Doug McMillon, while Target's stock has only increased by 60% under Brian Cornell [3]. - Target reported a 2.7% decline in comparable sales for the last quarter, whereas Walmart is expected to see a 3.8% increase in U.S. comparable sales [4]. Leadership Transition - Both CEOs, McMillon and Cornell, are leaving in February, but their succession plans differ; McMillon will remain on the board until 2026, while Cornell will take on a more powerful role as executive chair [4][5]. - Walmart's succession planning is viewed positively, with McMillon stepping down without causing investor panic, indicating strong management and a deep bench [6]. Market Perception - Wall Street analysts have expressed skepticism about Target's internal succession plan, preferring an outsider to lead the company amid its current challenges [6].