Walmart Stock Tumbles After CEO Unexpectedly Announces Retirement
Walmart CEO doug McMillon, who has led the company as 2014 and transformed it into a technology-driven retail giant, announced his surprise retirement effective January 31, 2026. John Furner, a longtime Walmart executive and current head of U.S. operations,will succeed him as CEO starting February 1,2026. During McMillon’s tenure, Walmart saw notable growth in annual revenue-from $485.7 billion to $681 billion-and its stock price rose substantially. McMillon invested heavily in employees by raising wages, expanding parental leave, and supporting education programs, while also focusing on lowering prices and integrating advanced technologies like artificial intelligence to improve both customer and worker experiences. Walmart Chairman Doug Penner praised mcmillon for driving a complete transformation that strengthened and modernized the company.Furner brings over 30 years of experience within Walmart across all its segments and is expected to continue the company’s advancement.
Walmart CEO Doug McMillon, who turned the nation’s largest retailer into a tech-powered giant since taking over in 2014, will retire in January in a surprise move.
John Furner, 51, a longtime insider and head of Walmart’s U.S. operations, will take over, the company said Friday.
s fell 3 percent immediately in premarket trading after the news, which was unexpected. McMillon is 59 years old.
McMillon’s retirement is effective Jan. 31. Furner will start as CEO the next day.
John Furner will become Walmart’s CEO on February 1, 2026, succeeding Doug McMillon who will retire January 31, 2026 but stay on the Board through June and as an advisor through January 31, 2027. https://t.co/JFoMW47gzF pic.twitter.com/6MY2yfWmNj
— Walmart News (@WalmartNews) November 14, 2025
During McMillon’s tenure as CEO, he invested heavily in its workers by increasing wages, expanding parental leave, and launching a program for certificates or degrees for employees seeking education opportunities.
Walmart has also lowered its prices and embraced technology like artificial intelligence to improve customer and worker experiences.
“Over more than a decade as CEO, Doug led a comprehensive transformation by investing in our associates, advancing our digital and e-commerce capabilities, and modernizing our supply chain, resulting in sustained, robust financial performance,” said Walmart Chairman Doug Penner, who is the son-in-law of Walmart’s late founder Sam Walton.
“He leaves Walmart stronger, more innovative, and better aligned with our purpose to help people save money and live better.”
Penner said that Furner, who started with the company in 1993, has more than 30 years in a variety of leadership roles across all three of Walmart’s operating segments, including six years as the head of Walmart’s U.S. business.
Since McMillon became CEO in February 2014, annual revenue has grown from $485.7 billion to $681 billion in its latest fiscal year.
Its stock was hovering around $25; now it is over $102 per .
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