Doug McMillon, the CEO of Walmart, will retire in January, leaving a longstanding subordinate in charge. The 59-year-old is leaving the position after leading the world’s largest retailer for more than 10 years, during which time it successfully expanded its online operations while reducing its risky overseas operations.
John Furner, a Walmart veteran who rose from the shop floor to lead the company’s US division, will take his place. Despite the uncertainties created by increased tariffs and indications of slowing consumer spending, the store has seen strong growth.
Greg Penner, chairman of Walmart, stated that Mr. McMillon had left the company in a better position than when he took over in 2014, when the company was on the defense due to the growth of e-commerce.
Doug led an extensive change by investing in our staff, advancing our digital and eCommerce skills, and modernising our supply chain, resulting in sustained, robust financial performance,” he stated in a statement announcing the initiatives. With more than 10,000 locations across 19 nations, Walmart has a vast global presence and recorded revenue of over $680 billion last year.
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