Walmart CEO Doug McMillon to step down in 2026 — Here's who will replace the executive

US-based multinational retail giant Walmart's President and Chief Executive Officer (CEO) Doug McMillon has announced that he is set to step down from his current role on 31 January 2026, according to a filing with the US Securities and Exchange Commission (SEC) on Friday, 14 November 2025.

McMillon informed the company about his resignation on 11 November 2025.

“On 11 November 2025, C. Douglas McMillon, president and chief executive officer of Walmart Inc., notified the company that he will retire from his position as president and chief executive officer, effective on the close of business on 31 January 2026,” according to Walmart's SEC filing.

According to the official data, McMillon will continue to serve the company as a director till June 2026, when the company will hold its scheduled annual shareholder meeting.

“Serving as Walmart’s CEO has been a great honour and I’m thankful to our Board and the Walton family for the opportunity. I’m incredibly proud of what our associates accomplished and deeply grateful for their commitment to our customers, to each other and to the communities we serve,” said McMillon in the official release.

Who will replace the executive?

Walmart's board of directors, in its meeting on 13 November 2025, appointed 51-year-old John Furner, who currently serves as the executive vice president and the head of Walmart's U.S. operations, as the president and chief executive officer of retail giant effective 1 February 2026.

“On November 13, 2025, the Board appointed Mr John R. Furner, age 51, as president and chief executive officer of the Company, effective February 1, 2026,” according to the regulatory filing.

Before his current role as executive vice president and the head of Walmart's U.S. operations, Furner served as the executive vice president and president and chief executive officer of Sam’s Club from 2017.

Furner has experience holding leadership roles across merchandising, operations, and sourcing, according to the official filing. The company also disclosed that Furner's promotion will not bring any compensatory changes to the salary.

According to data collected from LinkedIn, John Furner holds a BSBA degree in Marketing Management from the University of Arkansas from the year 1996. He started out at Walmart as an hourly associate in 1993, and over the last three years, he has held multiple roles in the company, including store manager, buyer, head of marketing and merchandising for Walmart China, based in Shenzhen.

Walmart Inc. shares were trading 2.34% lower at $100.14 as of the pre-market Wall Street session at 9:29 a.m. (EDT). Shares closed 0.87% lower at $102.54 after Thursday's US stock market session.