Walmart has confirmed that its long-serving chief executive Doug McMillon will retire early next year, with Walmart US CEO John Furner set to take the helm from 1 February 2026.

According to the retail giant’s regulatory filing, McMillon will step down on 31 January after more than a decade in the top job. He will remain with the business as an executive officer and advisor through to January 2027.

Furner, who began his Walmart career as an hourly associate in 1993, has led the retailer’s US arm since 2019, overseeing more than 4,600 stores and the company’s largest operating division.

Walmart chair Greg Penner described him as “the right leader to guide Walmart into the next chapter of our growth and transformation,” citing his 30-plus years of experience across the organisation.

McMillon, who also started as an hourly associate before coming CEO in 2014, has steered the retail giant through a period marked by rapid e-commerce expansion, pandemic-driven disruption and inflationary pressures.

“Serving as Walmart’s CEO has been a great honour,” McMillon said. “I’ve worked with John for more than 20 years… He’s uniquely capable of leading the company through this next AI-driven transformation.”

In 2021, Walmart sold most of Asda to UK investors (the Issa brothers and TDR Capital), but retained a 10% stake and a role on the board.

Earlier this year, the supermarket chain announced that it had finally completed its IT overhaul to finally cut its dependence on Walmart’s old systems, dubbed Project Future.

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