- Kathryn McLay, CEO of Walmart International, will depart effective January 31 and will remain through the first quarter.
- John Furner is set to succeed Doug McMillon as CEO in about two weeks, prompting an executive reshuffle.
- David Guggina, who leads U.S. e-commerce, will become CEO of Walmart U.S..
- Walmart shares dipped about 2% after the announcement but recently reached an all-time high of $120.
- Analysts at BTIG initiated a buy with a $120 price target; Tigress Financial projects $130.
Walmart announced an executive reshuffle ahead of a planned CEO transition, saying it would depart when Kathryn McLay leaves as CEO of Walmart International on January 31. The change comes roughly two weeks before John Furner is scheduled to take over from current CEO Doug McMillon. The company said “to help ensure a smooth transition,” McLay will remain through the first quarter.
McLay previously served as CEO of Sam’s Club starting in 2019 and moved to lead international operations in 2023. David Guggina, who currently oversees all U.S. e-commerce operations, will move into the role of CEO of Walmart U.S.. The company framed the changes as part of its executive succession planning.
Markets showed an immediate reaction, with Walmart shares slipping about 2% on the Friday after the announcement. Earlier in the week, shares hit an all-time high of $120 and were trading above $119 at the time of the report.
Analyst commentary cited the company’s combined digital and physical strategy. BTIG initiated a buy rating with a $120 price target, and Tigress Financial has a higher projection of $130. The firm will also join the Nasdaq-100 Composite, which analysts expect to affect trading and index composition.
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