India, Nov. 14 -- Walmart Inc. on Friday said 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 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. The 59-year-old will continue to be employed as an adviser through 31 January 2027.

As CEO, McMillon invested heavily in technology-including AI in recent years-to transform the big-box retailer into an e-commerce powerhouse rivalling Amazon.com Inc. It was under his leadership that Walmart acquired Flipkart and made it India's biggest online retailer-eclipsing A...