McMillon, who joined Walmart more than three decades ago, will leave his role on Feb. 1.
He will be succeeded by John Furner, head of Walmart U.S., who was also elected to Walmart’s board immediately.
The company, which operates about 5,200 U.S. stores including Sam’s Club, said McMillon, 59, will remain on the board until the next annual shareholder meeting and continue advising Furner through fiscal year 2027, mirroring previous succession plans.
Commenting on the changes, McMillon said that serving as CEO had been “a great honor” and expressed gratitude to the board and Walmart’s workforce.
“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,” he said.
He added that he had worked with Furner for more than 20 years and believed Furner’s “curiosity and digital acumen” and his commitment to company culture made him the right person to steer Walmart through an “AI-driven transformation.”
Leadership Transition
Walmart’s chairman, Greg Penner, said that Furner was the “right leader” to oversee the next stage of growth.He added that under Furner’s six-year leadership of Walmart U.S., the business navigated a period of “rapid change, marked by digital acceleration and strong associate engagement,” positioning the retailer for future expansion.
Penner also praised McMillon for more than a decade of leadership.
In the Nov. 14 statement, he said McMillon had guided Walmart through a sweeping transformation by “investing in our associates, advancing our digital and eCommerce capabilities, and modernizing our supply chain,” which resulted in sustained financial performance.
Furner has served as CEO of Walmart U.S. since 2019, overseeing more than 4,600 stores in the company’s largest operating segment.
He started at Walmart in 1993 as an hourly associate and later held leadership roles in merchandising, sourcing, and operations, including time spent overseas.
He previously served as CEO of Sam’s Club U.S.
Furner said he was “deeply honored” by the board’s trust and credited McMillon with building a strong foundation for Walmart’s next era.
He said Walmart would continue to anchor its growth in innovation, AI, and its long-held focus on customers and associates.
“As we enter a new retail era fueled by innovation and AI, our purpose and our people will continue to guide us,” he added.
Walmart continues to invest heavily in its digital infrastructure as online sales play a growing role in its operations.
The company sells more than 700 million items from 100,000 third-party sellers on its marketplace platform, including electronics, apparel, home goods, and beauty products.
Walmart said it would announce a successor for the Walmart U.S. division before the end of fiscal year 2026.
