John Furner, currently head of Walmart’s U.S. operations, will succeed McMillon as president and chief executive officer starting Feb. 1, 2026. Furner was also elected to the company’s Board of directors, effective immediately. McMillon will remain on the Board of Directors until the next annual shareholders’ meeting, the company said, to help ensure a smooth transition.
“We believe the timing of this transition underscores Walmart’s confidence in its strong position and the current momentum of the business,” the note said.
“When we look out two years, three years, five years, where I think we’ll be is we’ll have roughly the same number of people we have today,” he said.
In the future, having the same number of employees on the payroll as the company grows means Walmart will be, on a per capita level, more productive. Furner said that as the retailer and the technology it uses evolve, some jobs will disappear, with new roles emerging in their places. He said at the conference that one general manager in a Brooksville, Florida, store spent two decades leading trucks but now leads a team of bot techs.
“We’re extending people’s career and those jobs pay better. The attrition rates are really low,” Furner said.
