Doug McMillon, longtime chief executive of Walmart, will retire on February 1, 2026, ending more than a decade leading the world’s largest retailer. John Furner, currently president and CEO of Walmart U.S., has been named his successor.

McMillon’s journey with Walmart began in 1984, when he joined the company as an hourly associate unloading trucks. Rising through the ranks, he became CEO in 2014 and led the company through one of the most transformative periods in its history. Under his leadership, Walmart expanded into e-commerce, automation, and digital retail while maintaining its reputation for affordability.

During McMillon’s tenure, Walmart’s annual revenue climbed from about 485 billion dollars to more than 680 billion dollars, and its stock price roughly quadrupled. He is widely credited with steering the company through the rise of Amazon’s dominance and repositioning Walmart as a digital competitor rather than a traditional brick-and-mortar giant.

In announcing his retirement, Walmart Chairman Greg Penner praised McMillon for leaving the company “stronger, more innovative, and better aligned with our mission to help people save money and live better.” McMillon will remain on Walmart’s board until June 2027 and serve as a strategic advisor to Furner during the transition.

Furner, 51, follows a similar path to his predecessor, having started as a garden center associate in 1993. Over the years, he led Sam’s Club and Walmart U.S., developing a reputation for operational expertise and a deep understanding of both store operations and digital integration. Industry analysts expect him to continue Walmart’s push into AI-driven logistics, automation, and omnichannel retail.

The transition comes at a time of rapid change in the retail industry. Rising labor costs, global supply chain disruptions, and shifting consumer behavior have forced even the largest retailers to evolve quickly. McMillon’s retirement marks not only a leadership change but also a symbolic handoff into a more tech-driven, adaptive Walmart prepared for the next decade.

McMillon’s leadership helped stabilize Walmart’s image in an era of retail upheaval, balancing innovation with the company’s traditional customer-first ethos. As Furner prepares to take the reins, all eyes will be on how he continues that legacy while navigating the complex realities of modern retail.