In a year marked by significant shifts across global retail, Walmart has entered a new chapter. The company confirmed that Chief Executive Officer Doug McMillon will retire early next year, marking the end of one of the most enduring internal leadership journeys in corporate America. John Furner, who currently serves as the CEO of Walmart United States, will take over on 1 February, 2026. McMillon will step down on 31 January, 2026 and continue as an executive officer and advisor until 2027.For a leader who first joined the organisation as a teenage summer associate, the announcement carries a certain inevitability as well as a quiet sense of completion. His trajectory from unloading trucks in an Arkansas distribution centre to guiding the world’s largest retailer through an era of technological disruption remains one of the most illustrative stories in modern corporate leadership.
Early years and academic foundation
Carl Douglas McMillon was born in Memphis, Tennessee, and spent his early years in Jonesboro, Arkansas. His family moved to Bentonville, the home of Walmart’s headquarters, when he was sixteen. It was a shift that would shape the arc of his professional life. After completing high school, McMillon attended the University of Arkansas, where he graduated with a bachelor’s degree in 1989. He later pursued a Master of Business Administration from the University of Tulsa, adding a formal business education to the practical exposure he had already gained inside Walmart’s operations. It was during this period that he called the company to express interest in returning as a buyer, a decision that proved decisive.
A career built inside the organisation
McMillon’s professional journey is almost inseparable from Walmart itself. He first worked as a summer associate in 1984, unloading trucks and learning the rhythms of retail from the ground up. After completing his MBA in 1991, he joined the buyer training programme at the Bentonville headquarters. His early assignments involved overseeing categories such as fishing tackle, food, clothing, crafts and furnishings, gradually expanding his understanding of consumer behaviour and supply chain complexity.He later became a general merchandise manager at Sam’s Club, Walmart’s wholesale division, before rising to lead the unit from 2005 to 2009. In these roles, he developed the operational fluency that would define his later leadership. His tenure coincided with evolving shopper expectations and growing competitive pressure, providing him with the experience required for more demanding global responsibilities.
Global exposure and executive ascent
In 2009, Walmart appointed McMillon as the head of its international division, marking a significant expansion of his responsibilities. At the time, the unit operated in fourteen countries with more than 3,300 stores. Under his leadership, it grew to 6,300 stores across twenty-six countries. He focused on strengthening operations in Canada, China, the United Kingdom and Latin America, while reinforcing Walmart’s core philosophy of everyday low prices in diverse markets. The acquisition of a majority stake in South Africa’s Massmart Holdings Limited for $2.4 billion became one of the most notable transactions during his tenure.His success at Walmart International positioned him as the natural successor to Mike Duke. In 2014, McMillon became the company’s fifth CEO. His appointment also reflected Walmart’s longstanding emphasis on internal mobility and continuity.
Leading Walmart through a changing retail landscape
When McMillon became CEO the company was confronting slower growth and intensified competition from Amazon, Costco and rapidly expanding discount chains. His first years were defined by a willingness to invest in long-term capability, often at the expense of short-term profits. He raised wages for hourly workers in the US, made large commitments to e-commerce infrastructure, and restructured parts of the executive team to prepare for a digital-first retail future.These decisions helped Walmart reposition itself in an industry undergoing rapid transformation. The company strengthened its online presence, integrated physical and digital operations more effectively and maintained its competitive standing in groceries and general merchandise.
A transition rooted in continuity
McMillon’s retirement completes a leadership cycle that mirrors the organisation’s culture: Steady, internal and grounded in operational experience. His successor, John Furner, began at Walmart as an hourly associate in 1993 and has led the US division since 2019. The continuity reflects Walmart’s preference for leaders who understand the company from within and appreciate the scale and discipline required to run it.As McMillon prepares to step aside after more than a decade at the helm, his legacy is defined not by dramatic reinvention but by thoughtful stewardship. His journey from associate to CEO underscores the enduring value of long-term institutional knowledge at a time when leadership tenures are shortening and corporate cycles are accelerating.For Walmart, the transition signals both stability and renewal. For McMillon, it marks the closing of a career that began with a summer job and grew into one of the most significant leadership roles in global retail.