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Walmart CEO Plans To Stay In Role For At Least Three More Years: Sources

By Donna Ahern
Walmart CEO Plans To Stay In Role For At Least Three More Years: Sources

Walmart Inc chief executive Doug McMillon, 56, plans to helm the country's largest retailer for at least three more years as the company continues work to identify a successor, the Wall Street Journal reported on Thursday.

McMillon's plans to stay in the role for more than a decade will extend the company's timeline for finding its next leader, the report added, citing people familiar with the matter.

Walmart did not immediately respond to a Reuters request for comment.

Potential Candidates

The WSJ said Kathryn McLay, 49, the head of Walmart warehouse chain Sam's Club, is also among those seen as potential candidates.


Walmart last week struck a cautious note in its economic outlook for 2023 as the retail bellwether forecast full-year earnings below estimates and warned that tight spending by consumers could pressure profit margins.

Full-Year Earnings 

Earlier this week, Walmart Inc forecast full-year earnings below estimates, saying it was cautious about the economic outlook for 2023 and that consumers were likely to continue shopping for lower-priced items that could pressure its margins.

Shares of the world's largest retailer fell 2.6% to $142.50 in premarket trading.

The retailer, which operates more than 5,000 stores in the United States, has been using its market power to negotiate better prices from its suppliers and ward off competition from rivals such as Target Corp, whose shelves are relatively pricier.


Read More: Walmart Latest To Tap Bond Market With $5bn Offerings

News by Reuters, edited by Donna Ahern, Checkout. For more retail news, click here. Click subscribe to sign up for the Checkout print edition.

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