McMillon to Retire as Walmart CEO in January, Furner to Step in

On Friday, Nov. 14, Walmart Inc. WMT announced that its long-serving CEO, Doug McMillon, will retire effective Jan. 31, 2026. The board has appointed John Furner, currently head of Walmart U.S., to assume the role of president and chief executive officer from February, ushering in a new era for the global retail behemoth. Walmart is part of the Zacks Retail – Supermarkets industry.McMillon, who started his Walmart career in 1984 as an hourly worker, has served as CEO since 2014 and presided over a period of sweeping transformation. During his tenure, the company saw strong revenue growth and a rapid expansion of its global e-commerce operations. He steered Walmart toward automation, artificial intelligence and a broad digital overhaul, helping reshape it into a tech-driven retailer capable of competing in a rapidly evolving marketplace. His leadership also placed notable emphasis on employee well-being, including wage increases, expanded parental leave and new education programs offering workers access to certificates and degrees.The board voiced full confidence in Furner’s ability to maintain Walmart’s forward momentum. At 51, Furner is a long-time insider who joined the company in 1993 as an hourly associate. His extensive experience spans operations, merchandising and sourcing, and includes leading Sam’s Club as well as overseeing Walmart’s U.S. business since 2019. Chairman Greg Penner highlighted Furner’s deep grasp of Walmart’s culture and strategy, saying he is well-equipped to steer the company through its next chapter of growth.Walmart stressed that the transition was long planned. McMillon will stay on the board until the next shareholder meeting and will continue advising the company through fiscal 2027 to support a smooth handover.Investors initially reacted cautiously. Walmart shares declined sharply in premarket trading as markets absorbed the news and weighed the uncertainty that often accompanies a shift at the top. However, losses moderated during the session as market participants viewed Furner’s promotion as a logical, steady and well-prepared succession.As of Nov. 14, the Zacks Rank #3 (Hold) company’s shares gained 13.4% year to date compared with its Zacks Peer Group, which has jumped 28.2%. The Kroger Co. KR and Tesco PLC TSCDY, two of its peers from the same Zacks industry segment, have added 9.1% and 24.7%, respectively, in the same period. While TSCDY also carries a Zacks Rank #3, KR has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Walmart Inc. (WMT): Free Stock Analysis Report The Kroger Co. (KR): Free Stock Analysis Report Tesco PLC (TSCDY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks