Walmart announced that longtime Chief Executive Officer Doug McMillon will retire at the end of January 2026 after more than 40 years with the company. Under his leadership, Walmart transformed its business model and has seen an increase in higher-income shoppers amid ongoing inflation pressures.
McMillon is stepping down as CEO effective January 31, 2026, marking nearly 12 years in the top role and decades of service. Walmart named U.S. head John Furner to succeed him beginning February 1, 2026.
During an interview on Mornings with Maria, McMillon discussed how price pressures and inflation have reshaped consumer shopping habits and helped broaden Walmart’s customer base. He attributed growth among affluent customers to the company’s investments in e-commerce, curbside pickup, delivery options, and an expanded product assortment that goes beyond the traditional low-price focus.
Analysts have noted that inflation has driven consumers across income levels to seek value and convenience at Walmart stores. Higher-income households, once less likely to shop at Walmart, increasingly frequent the retailer for a combination of pricing, broader merchandise, and digital options.
McMillon highlighted advances in technology, including tighter integration between physical stores and online services, as factors that improved customer satisfaction. Walmart now draws shoppers not only for basic groceries and essentials but also for discretionary categories like fashion.
The CEO transition comes as Walmart continues to adapt to economic headwinds, including tariffs and import costs, while maintaining its focus on competitive pricing and growth. The change in leadership signals a new chapter for the nation’s largest retailer as it navigates evolving consumer behavior and technological innovation.
