Walmart announced Friday that longtime CEO Doug McMillon will step down after more than ten years leading the nation’s largest retailer. John Furner, the current head of Walmart U.S., will take over after the company’s fiscal year ends on February 1.
Furner, 51, started at Walmart as an hourly worker in 1993 and now oversees more than 4,600 stores. McMillon, 59, oversaw Walmart’s shift from a traditional big-box chain into a retail and e-commerce powerhouse, boosting revenue and market value while raising wages and improving benefits. He’ll stay on the board through next spring.
The shift signals a new chapter for a company that rarely changes CEOs and often promotes from within.
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Even Six-Figure Earners Are Feeling Broke These Days
Image Credit: Ulrich Baumgarten via Getty Images
Americans earning six-figure salaries say they are in “survival mode,” living paycheck to paycheck. Rising housing costs, child-care bills, debt payments, and everyday expenses are eating through earnings that once felt solid. In many cities, $100,000 no longer brings stability.
As a result, families are cutting back on travel, putting off big purchases, and leaning on savings just to get through the month. Even workers with strong careers say they feel stretched thin. $100,000 looks impressive on paper, but reality tells a different story.
Walmart announced Friday that longtime CEO Doug McMillon will step down after more than ten years leading the nation’s largest retailer. John Furner, the current head of Walmart U.S., will take over after the company’s fiscal year ends on February 1.
Furner, 51, started at Walmart as an hourly worker in 1993 and now oversees more than 4,600 stores. McMillon, 59, oversaw Walmart’s shift from a traditional big-box chain into a retail and e-commerce powerhouse, boosting revenue and market value while raising wages and improving benefits. He’ll stay on the board through next spring.
The shift signals a new chapter for a company that rarely changes CEOs and often promotes from within.
Read more
Even Six-Figure Earners Are Feeling Broke These Days
Image Credit: Ulrich Baumgarten via Getty Images
Americans earning six-figure salaries say they are in “survival mode,” living paycheck to paycheck. Rising housing costs, child-care bills, debt payments, and everyday expenses are eating through earnings that once felt solid. In many cities, $100,000 no longer brings stability.
As a result, families are cutting back on travel, putting off big purchases, and leaning on savings just to get through the month. Even workers with strong careers say they feel stretched thin. $100,000 looks impressive on paper, but reality tells a different story.
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