Walmart (WMT) made a major announcement on Friday when it updated that John Furner, current president and CEO of Walmart U.S., will succeed Doug McMillon in the top job at the company on February 1. McMillon will retire on January 31, remain on the board until the next annual shareholders’ meeting, and serve as an advisor to Furner through FY27. The company plans to announce Furner’s successor at Walmart U.S. before the end of FY26.
Jefferies analyst Corey Tarlowe said the firm sees the transition as strategic continuity, with no disruption to momentum or long-term growth. “McMillon spent a ~decade investing in digital, supply chain, and omnichannel capabilities; now we think Furner’s mandate is to innovate and accelerate, leveraging these investments to drive sales growth, profitability, and AI-driven retail leadership,” he updated.
Wells Fargo analyst Edward Kelly said the timing of the CEO announcement was a surprise but said the firm has high regard for Furner and sees the retailer’s foundation as still rock solid. “Furner has experience across all three segments of the business, has a strong merchant background, and his contribution to the Walmart transformation lately shouldn’t be looked past,” wrote Kelly.
Morgan Stanley analyst Simeon Gutman called Furner the logical successor to McMillon and said the firm is highly confident in his ability to lead Walmart (WMT) in its next chapter.
“Often in a transition of this magnitude, there is natural concern as to how an incoming leader will step up into an elevated role, especially when filling such big shoes. In this instance, we have no doubts, as we know Mr. Furner well and believe he has already been operating with the holistic thinking of WMT’s enterprise CEO,” highlighted Gutman.
Shares of Walmart (WMT) showed a 0.7% decline at 1:15 p.m. after being down close to 3% earlier.
The ETFs with the highest weighting in Walmart (WMT) are the Fidelity MSCI Consumer Staples Index ETF (FSTA), Vanguard Consumer Staples ETF (VDC), and Consumer Staples Select Sector SPDR Fund (XLP).