Walmart shares slip as retailer names John Furner as next CEO
Investing.com -- Walmart shares fell around 3% in premarket trading after the retailer announced that John Furner will become its next president and chief executive officer, succeeding longtime CEO Doug McMillon in early 2026.
Walmart said its board of directors elected Furner, 51, as CEO effective Feb. 1, 2026.
He was also appointed to the board immediately. McMillon, 59, will retire on Jan. 31, 2026, and “will remain on the board until the next annual shareholders meeting to assist with the transition,” the company revealed.
Furner has served as president and CEO of Walmart U.S. since 2019, overseeing more than 4,600 stores in the company’s largest segment.
He joined Walmart in 1993 as an hourly associate and has held leadership positions in merchandising, operations and sourcing. He also previously led Sam’s Club U.S.
“John Furner is the right leader to guide Walmart into our next chapter of growth and transformation,” Chairman Greg Penner stated.
He added that after more than 30 years with the company across all three operating segments, “John understands every dimension of our business.”
McMillon praised his successor, saying, “His love for our associates and this company runs deep. 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.”
Walmart added that McMillon will continue as an advisor to Furner through fiscal 2027. The retailer plans to name a new CEO for Walmart U.S. before the end of fiscal 2026.
Following the news, analysts at Vital Knowledge said “the news is somewhat surprising.”
“A WSJ report from March of 2023 said McMillon would continue serving as CEO for ‘at least three more years,’ which comports almost exactly with the 2/1/2026 leadership transition date, but there hadn’t been much talk in recent months about an imminent change, and people thought he would stay on longer given how well the company is performing and his relatively young age,” explained the firm.
