Walmart Stock Holds Firm As International Chief Steps Down After Just 2 Years Into Role

• Kathryn McLay is leaving at the end of this month after a two-year stint as CEO of Walmart International.
• Walmart said it would announce a successor.
• Walmart’s incoming CEO, John Furner, will take over on Feb. 1.

Walmart, Inc. said on Thursday that Kathryn McLay, the CEO of the retailer’s international business, is stepping down from her role at the end of this month. Walmart’s shares ended marginally higher in the after-market session.

McLay, a Walmart veteran of a decade, assumed the role in 2023 after previously serving as CEO of the retailer’s membership-only chain, Sam’s Club. The company said it would name the new head of the international business shortly.

McLay was among the contenders to replace the outgoing CEO Doug McMillon, who is retiring this month. In November, Walmart named John Furner, head of its U.S. operations, as its next CEO, effective Feb. 1.

International Division 

Walmart generates about one-fifth of its revenue from overseas markets. McLay’s predecessor, Judith McKenna, made bold moves in the 10 years she helmed the division, including the massive $16 billion purchase of Indian e-commerce giant Flipkart and exits from the UK and Japan by offloading its stakes in local supermarkets.

The international business currently spans 18 countries; the division’s sales rose 11% during the latest quarter, driven by growth in China, India, and Mexico. For 10-year sales trends vis-à-vis Walmart’s overall sales, see the charts below.
 

Walmart Steadies

The development comes as the largest U.S. retail chain appears to have regained its footing, following disruption from President Donald Trump’s tariff policy last year. The company reported strong third-quarter results and raised its outlook for the current year in November, promoting a rally in shares and bullish revisions from analysts.

Of late, the retail giant has invested heavily to expand its digital operations, including e-commerce sites and artificial intelligence capabilities. It has partnered with Walmart to allow purchases of Walmart products via ChatGPT and Gemini AI chatbots, integrations that analysts believe would drive material gains for its business. 

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