Walmart International CEO Kathryn McLay Exits Amid Reshuffle

Kathryn McLay, President and CEO, Walmart International, will step down from her position on Jan. 31, 2026. The retail multinational announced the leadership change on Thursday, noting that a successor for its more than US$100 billion (MX$1.77 trillion) international business will be named shortly.

McLay, who has led the international division since September 2023, will remain with the company through 1Q26 to support a transition period. Her departure coincides with a broader leadership reshuffle at the world’s largest retailer, as long-time enterprise CEO Doug McMillon prepares to retire at the end of the month.

Executive Tenure and Contributions

McLay joined Walmart in 2015, initially working in US strategy and supply chain roles before leading the Neighborhood Market business. Prior to her appointment to the international division, she served as president and CEO of Sam’s Club US from 2019 to 2023. Under her leadership, the warehouse club chain recorded 12 consecutive quarters of double-digit sales growth.

In a statement, McMillon credited McLay with advancing the company's digital and technological transformation and strengthening the international leadership team. "She has done a fantastic job, and we will miss her positive impact on our business," McMillon said.

McLay described her decade-long tenure at the company as a privilege. "The roles I have held at the company have been extraordinary, filled with opportunities to have an impact on communities," she stated.

Corporate Leadership Transition

The exit of McLay and McMillon marks a significant leadership shift for the retail giant. In November 2025, Walmart’s board of directors elected John Furner, current president and CEO of Walmart US, to succeed McMillon as corporate president and CEO, effective Feb. 1, 2026.

Furner, a 30-year veteran who began his career as an hourly associate, will lead the company through its next phase of AI-driven transformation. McMillon will remain on the board until the annual shareholders’ meeting in June 2026 and will serve as an advisor to Furner through January 2027.

The company is currently identifying successors for the leadership roles vacated by Furner in the US division and by McLay in the international segment to ensure operational continuity.

International CEO Turnover

In 2025, the sector recorded a significant increase in CEO turnover, driven by generational shifts and strategic realignments amid a complex macroeconomic environment. In the United States, retail CEO exits reached between 41 and 43 by late 2024, representing an increase of more than 100% compared with the previous year. At Target, Michael Fiddelke was selected to succeed Brian Cornell in 2026; Fiddelke is a company veteran who previously oversaw logistics and sourcing.

A similar trend has emerged in Mexico, where at least nine major companies, including Walmex, FEMSA and Grupo Bimbo, replaced their top executives during the second half of the year.
 

“With CEO turnover accelerating, companies are prioritizing cost savings and efficiency gains to navigate increasingly complex market conditions,” said Jacobo Rodríguez, specialist, Roga Capital.