10:00 AM EST, 11/14/2025 (MT Newswires) -- Walmart's ( WMT ) management succession process will likely be "relatively seamless" as the company is "hitting on all cylinders," Truist Securities said in a note Friday.

The retailer said Friday its board has elected John Furner as president and chief executive of the company, effective Feb. 1. Furner will succeed Doug McMillon, who will retire on Jan. 31 but will remain on the board until the next annual shareholders' meeting, Walmart ( WMT ) said.

Truist said that Furner, who is seen as "another highly successful, long-time Walmart ( WMT ) veteran," has led Sam's Club and Walmart US for several years and has been "intimately involved in Walmart's ( WMT ) turnaround process and increasing usage of tech/artificial intelligence."

Furner now has to continue implementing the company's strategy, according to the note.

Truist reiterated its buy rating and $109 price target on Walmart ( WMT ).

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