Walmart reshuffles executive team ahead of Furner's takeover as global CEO

By Siddharth Cavale Jan 16 (Reuters) – Walmart announced a series of executive changes on Friday as John Furner prepares to take over as CEO of the world's largest retailer on February 1, replacing Doug McMillon. The moves aim to maintain the Bentonville, Arkansas-based retailer's growth momentum and bellwether position in the industry by promoting four longtime executives and expanding their responsibilities.  David Guggina will become CEO of Walmart's largest division, Walmart U.S., replacing Furner in that role. Currently serving as chief e-commerce officer of Walmart U.S., Guggina has spent nearly eight years at the retailer in various positions, including executive vice president of supply chain operations. The U.S. CEO position is highly coveted, as Walmart typically promotes leaders from this division, which generates around two-thirds of its annual revenue, to the top corporate job. NICHOLAS TO LEAD WALMART INTERNATIONAL Walmart also promoted Chris Nicholas to CEO of its $100 billion Walmart International division, a day after announcing that current head Kathryn McLay would leave the company. Nicholas currently leads Sam's Club, where he will be replaced by the chief merchandising officer for Walmart U.S., Latriece Watkins. Additionally, Seth Dallaire, currently Walmart U.S. chief growth officer, will expand his responsibilities globally as chief growth officer of Walmart Inc, the company said in a statement. All leadership changes take effect on February 1. "These leadership changes mark a key step in how we organize for the future. Even the best teams need the right structure to win," Furner said. According to a company filing, Furner's annual base salary is set at $1.5 million. He will receive a one-time stock award worth $10 million and be eligible for an annual equity award valued at approximately $17 million in fiscal 2027. The moves come at a critical time for Walmart as it navigates domestic inflation pressures and strains on lower-income U.S. households. President Donald Trump's volatile trade policies have weighed on the company's operations and supply chain relationships with key growth markets, including China, India, and Mexico. Despite these challenges, Walmart has performed strongly. The company has reported quarterly revenue growth for nearly a decade straight, and its shares hit a record high this week. The stock gained 21% in 2025, significantly outpacing the 1.3% rise in the S&P 500 Consumer Staples index. Walmart's shares were flat at $118.67 in morning trading on Friday.  (Reporting by Neil J Kanatt in Bengaluru and Siddharth Cavale in New York; Editing by Shilpi Majumdar, Rod Nickel)

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