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Walmart said on Friday that CEO Doug McMillon would retire next year and that insider John Furner would succeed him as the retailer’s top boss.
Shares of the company fell about 3 percent in premarket trading.
The move is the latest in a string of leadership changes sweeping through the retail sector as companies tackle tariff pressures, an uncertain economy and choppy consumer spending backdrop. Target also named insider Michael Fiddelke as its new CEO earlier this year.
Furner currently…
