Walmart Makes Historic Shift to Nasdaq as CEO Doug McMillon Passes the Torch
In a move that signals the retail giant's commitment to embracing technology, Walmart has made the historic shift from listing its stock on the New York Stock Exchange to the tech-heavy Nasdaq. The company's outgoing CEO, Doug McMillon, marked this milestone yesterday during an appearance on CNBC's Squawk Box.
McMillon, who will step down early next year, acknowledged that his tenure was defined by digitalization, but emphasized that his successor, incoming CEO John Furner, is poised to take the reins and drive Walmart into its next phase. "When you see somebody who's ready to run the next lap better and faster than you are, it's time to hand the baton and get out of the way," McMillon said, highlighting Furner's potential.
McMillon, who has been at the helm for nearly a decade, credited his success to "luck" rather than deliberate strategy. However, he is adamant that Walmart must adapt to an era dominated by artificial intelligence (A.I.). The company plans to overhaul its shopping experience with A.I.-native platforms, personalized and filled with multimedia content, which could rival social media platforms like TikTok.
Under McMillon's leadership, Walmart has undergone a remarkable e-commerce transformation, posting a 300% increase in shares. However, he is eager to move on from his legacy project and focus on the next chapter. "I realized it was time to step aside after recognizing that commerce's next phase will be agentic," he said.
Furner inherits a company with a robust e-commerce presence, capable of competing effectively with Amazon. Walmart's recent earnings report showed significant growth, driven in part by its broad appeal across income groups. However, the retailer faces challenges like inflation, which is affecting low-income customers.
As McMillon transitions to his next role, he has not yet announced plans for his post-CEO life. For now, he is looking forward to a "blank calendar" and exploring opportunities in both business and philanthropy. As Walmart embarks on its new journey with A.I. at the helm, it remains to be seen how this historic shift will shape the future of retail.
In a move that signals the retail giant's commitment to embracing technology, Walmart has made the historic shift from listing its stock on the New York Stock Exchange to the tech-heavy Nasdaq. The company's outgoing CEO, Doug McMillon, marked this milestone yesterday during an appearance on CNBC's Squawk Box.
McMillon, who will step down early next year, acknowledged that his tenure was defined by digitalization, but emphasized that his successor, incoming CEO John Furner, is poised to take the reins and drive Walmart into its next phase. "When you see somebody who's ready to run the next lap better and faster than you are, it's time to hand the baton and get out of the way," McMillon said, highlighting Furner's potential.
McMillon, who has been at the helm for nearly a decade, credited his success to "luck" rather than deliberate strategy. However, he is adamant that Walmart must adapt to an era dominated by artificial intelligence (A.I.). The company plans to overhaul its shopping experience with A.I.-native platforms, personalized and filled with multimedia content, which could rival social media platforms like TikTok.
Under McMillon's leadership, Walmart has undergone a remarkable e-commerce transformation, posting a 300% increase in shares. However, he is eager to move on from his legacy project and focus on the next chapter. "I realized it was time to step aside after recognizing that commerce's next phase will be agentic," he said.
Furner inherits a company with a robust e-commerce presence, capable of competing effectively with Amazon. Walmart's recent earnings report showed significant growth, driven in part by its broad appeal across income groups. However, the retailer faces challenges like inflation, which is affecting low-income customers.
As McMillon transitions to his next role, he has not yet announced plans for his post-CEO life. For now, he is looking forward to a "blank calendar" and exploring opportunities in both business and philanthropy. As Walmart embarks on its new journey with A.I. at the helm, it remains to be seen how this historic shift will shape the future of retail.
, but also kinda worried they're jumping into a world that's already pretty dominated by tech giants like Amazon and TikTok 
. I mean, I get it, A.I.-native platforms can be super convenient, but we don't wanna lose that human touch in the process 
. And what about all those low-income customers struggling with inflation? Walmart needs to make sure they're not just gonna forget about those folks when they start churning out AI-powered shopping experiences 
. Still, I guess it's a step in the right direction, and who knows maybe John Furner is the guy to take them into that next phase 
. I mean, who wouldn't want their stock on the Nasdaq? It's like a seal of approval that they're getting ready for the digital revolution 
. The AI thing is gonna be huge, I've already started seeing more A.I-powered ads and stuff online. It's gonna get real interesting to see how Walmart takes on Amazon and the rest of the retail game 
.
but seriously though, it's cool that they're acknowledging the importance of tech and AI... 300% increase in shares is insane! i wonder if Furner is ready for the baton tho 
he's got some big shoes to fill after McMillon's success. and omg, walmart wants to create its own social media platform? that's wild 
but also kinda exciting? can't wait to see how this all plays out 
cant wait to see how waltmart's e-commerce platform evolves with ai-native platforms 
i mean who really likes paying taxes anyway? 
. new ceo john furner seems like a solid choice tho, gotta see how he executes the plan 
. one thing i dont get is why walmart isnt focusin more on its own brandin rather than just tryin to keep up with tiktok and amazon 
. What if it doesn't work out? I guess only time will tell if Walmart can pull this off