Walmart, with $5 Trillion in Revenue, Announces New CEO

On November 14, Walmart announced that CEO Doug McMillon will retire on February 1, 2026, and John Furner, CEO of Walmart U.S., will succeed him. Since 2014, McMillon has led Walmart to 12 consecutive years as the world’s top retailer, with total revenue growth exceeding $200 billion and stock rising nearly 300%.

1. From Summer Warehouse Worker to Global CEO

McMillon started as a summer warehouse worker at 16, later earned a degree in accounting and an MBA, worked as a buyer and merchandise manager, and eventually became Sam’s Club U.S. CEO. In 2006, he joined Walmart International and became global CEO in 2014.

2. Walmart’s Transformation

Eleven years ago, Walmart faced a plateau with $476 billion in revenue, weak U.S. sales, and Amazon’s rise. McMillon returned to frontline operations, launched an employee investment plan, modernized stores, and expanded e-commerce through acquisitions like Jet.com and Bonobos, as well as Walmart+. Using its store network as fulfillment centers, Walmart’s global revenue grew to $681 billion and stock rose 312%.

3. Another “Walmart Insider” Takes Over

New CEO John Furner also grew up at Walmart, advancing through Sam’s Club and U.S. operations. He led logistics and fulfillment upgrades, and the board sees him as ideal to lead Walmart through its next phase of growth and transformation.

4. Walmart’s Future

Walmart’s growth will depend on changing customer demographics, omnichannel ecosystem, and AI-driven retail operations. Higher-income households and grocery remain key growth drivers. AI initiatives like ChatGPT-based shopping, smart replenishment, and automated warehousing are transforming internal operations. McMillon emphasizes: "Every role will be impacted by AI; the key is enabling everyone to leverage new tools to create value."