Walmart Inc (NYSE:WMT, ETR:WMT) shares slipped 2.5% in early trading on Friday after the retail giant disclosed that its CEO Doug McMillon is retiring early in 2026 after leading the company for nearly 12 years.
McMillon will be succeeded by John Furner, who is currently the CEO of Walmart US, at the beginning of 2026.
Furner joined the company in 1993 as an hourly associate and has been the head of Walmart’s US business since 2019.
McMillon will officially retire at the end of January 2026, but will continue to serve as an executive officer of the company and will be employed by Walmart as an advisor through January 2027.
Walmart’s shares have climbed nearly 300% during McMillon’s tenure as CEO and have gained more than 12% year to date to its current price of $100.96.