Walmart CEO Doug McMillon to retire, insider John Furner named top boss

(Reuters) -Walmart said on Friday that CEO Doug McMillon will retire next year and will be replaced by insider John Furner as the new top boss.

The company’s shares were down about 2% in premarket trading.

McMillon will retire on January 31, the company said. Furner currently serves as CEO for Walmart U.S.

Walmart reports quarterly results next week.