Walmart announced Friday that longtime CEO Doug McMillon will step down after more than ten years leading the nation’s largest retailer. John Furner, the current head of Walmart U.S., will take over after the company’s fiscal year ends on February 1.
Furner, 51, started at Walmart as an hourly worker in 1993 and now oversees more than 4,600 stores. McMillon, 59, oversaw Walmart’s shift from a traditional big-box chain into a retail and e-commerce powerhouse, boosting revenue and market value while raising wages and improving benefits. He’ll stay on the board through next spring.
The shift signals a new chapter for a company that rarely changes CEOs and often promotes from within.
Even Six-Figure Earners Are Feeling Broke These Days
Image Credit: Ulrich Baumgarten via Getty Images
Walmart announced Friday that longtime CEO Doug McMillon will step down after more than ten years leading the nation’s largest retailer. John Furner, the current head of Walmart U.S., will take over after the company’s fiscal year ends on February 1.
Furner, 51, started at Walmart as an hourly worker in 1993 and now oversees more than 4,600 stores. McMillon, 59, oversaw Walmart’s shift from a traditional big-box chain into a retail and e-commerce powerhouse, boosting revenue and market value while raising wages and improving benefits. He’ll stay on the board through next spring.
The shift signals a new chapter for a company that rarely changes CEOs and often promotes from within.
Even Six-Figure Earners Are Feeling Broke These Days
Image Credit: Ulrich Baumgarten via Getty Images
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