Walmart CEO Doug McMillon will retire in January, the Bentonville-based retailer said Friday.

Walmart’s board elected John Furner, head of U.S. operations and a longtime insider, to take over.

McMillon will retire effective Jan. 31, 2026 and Furner will start as CEO the next day.

“John Furner is the right leader to guide Walmart into our next chapter of growth and transformation,” said Greg Penner, Chairman of Walmart Inc.

“After starting as an hourly associate and being with us for over 30 years in a variety of leadership roles across all three of our operating segments, John understands every dimension of our business — from the sales floor to global strategy,” Penner said.

Serving as Walmart’s CEO has been a great honor, McMillon said.

“I’m thankful to our Board and the Walton fam

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