India, Nov. 14 -- Walmart Inc. on Friday announced that CEO Doug McMillon will retire early next year, bringing to an end a decade-long tenure at the helm of US's biggest retailer. John Furner, a long time insider and head of Walmart's US operations, will take over.

McMillon's retirement is effective 31 January 2025. Furner will start as the Walmart CEO the next day, according to a statement.

As CEO, McMillon invested heavily in Walmart's workers by increasing wages, expanding parental leave and launching a program for certificates or degrees for employees seeking education opportunities. Walmart has also lowered its prices and embraced technology like AI.

This is a developing story. More to come.

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