Doug McMillon

Doug McMillon ran Walmart, the largest retailer and largest private employer on earth, from February 2014 until his retirement on January 31, 2026. A career insider who started as a teenage hourly associate unloading trucks, he rose through every major segment of the company before becoming its fifth CEO. Under his leadership Walmart pushed aggressively into e-commerce, advertising, automation, and health care while defending its dominance in U.S. groceries.

His power extended well beyond a single company. As chairman of the Business Roundtable from 2020 to 2021, McMillon led the principal lobbying organization of roughly 200 of the largest U.S. corporations, giving him a central role in how big business engaged Washington on taxes, trade, labor, and regulation. Walmart's sheer scale means its wage, pricing, and sourcing decisions ripple across the entire American consumer economy and global supply chains.

On November 14, 2025, Walmart announced that McMillon would retire and that John Furner, head of Walmart U.S., would succeed him as president and CEO effective February 1, 2026. McMillon remained on Walmart's board and stayed on in an advisory capacity to ease the transition. In his final fiscal year Walmart reported about $713 billion in revenue, and in early 2026 it became the first traditional retailer valued above $1 trillion.

What they control

• Walmart: directed the world's largest retailer by revenue (about $713 billion in fiscal 2026) and largest private employer for nearly 12 years
• Labor footprint: oversaw roughly 2.1 million employees worldwide, 1.6 million in the U.S., across more than 10,900 stores and clubs
• U.S. grocery and retail pricing: Walmart's purchasing scale gives it leverage over suppliers and significant influence on consumer prices
• Business Roundtable: chaired the leading CEO lobbying group (2020-2021), shaping corporate policy advocacy in Washington
• Walmart board and advisory role: retained a board seat and adviser status after handing the CEO job to John Furner
• Strategic direction: drove Walmart's expansion into e-commerce, retail media advertising, fulfillment automation, and health services

Key institutions & holdings

Key facts

• Served as Walmart president and CEO from February 2014 until retiring January 31, 2026, succeeded by John Furner.
• Walmart reported about $713 billion in revenue for the fiscal year ended January 31, 2026.
• Walmart is the world's largest private employer, with roughly 2.1 million associates worldwide and 1.6 million in the U.S.
• Chaired the Business Roundtable from 2020 to 2021, leading corporate America's primary policy lobby.
• His estimated net worth was about $690 million as of May 2026, largely in Walmart stock.
• In early 2026 Walmart became the first traditional retailer to be valued above $1 trillion.

Timeline

1. 1984Joins Walmart as a teenage hourly associate, later working through merchandising and international roles.
2. 2014-02Becomes president and CEO of Walmart, succeeding Mike Duke.
3. 2020-01Begins a two-year term as chairman of the Business Roundtable.
4. 2025-11-14Walmart announces McMillon will retire and John Furner will become CEO.
5. 2026-01-31Retires as CEO; John Furner takes over February 1, 2026.
6. 2026-02Walmart becomes the first traditional retailer valued above $1 trillion.

Controversies

Network

• Walton familyControlling ownersHeirs of founder Sam Walton hold close to half of Walmart's shares; McMillon served as their hired chief executive.
• Greg PennerBoard chairmanWalmart chairman and Walton family member to whom McMillon reported.
• John FurnerSuccessorLongtime Walmart executive who became president and CEO on February 1, 2026.
• Mike DukePredecessorFormer Walmart CEO whom McMillon succeeded in 2014.