Walmart CEO Doug McMillon to retire in January and US operations chief John Furner will take over
News Source : Associated Press
News Summary
- John Furner, 51, the head of Walmart’s U.S. operations, will take over on Feb. 1.
- Walmart shares fell 3% immediately in premarket trading after the news of the unexpected leadership change.
- Walmart's annual revenue jumped 40% under McMillon, from $485.7 billion at the end of the first fiscal year with him as CEO to $681 billion in its latest fiscal year.
- The pending CEO switch comes at a challenging time for retail companies.
NEW YORK (AP) Walmart CEO Doug McMillon, who turned the nations largest retailer into a techpowered giant since taking over in 2014, will retire in January in a surprise move. John Furner, 51, a l [+1535 chars]
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