08:23 AM EST, 11/14/2025 (MT Newswires) -- Walmart ( WMT ) said Friday its board has elected John Furner as president and chief executive officer 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.

Furner has previously served as the president and CEO of Walmart US since 2019, the company added.

Shares of the company were down nearly 3% in recent Friday premarket activity.