"When Walmart CEO Doug McMillon announced Friday that he plans to retire in January after 12 years on the job, he joined a growing wave of retail executives stepping down during a record year of turnover. Retail leader turnover is up 79% year over year, according to a report released by the business and executive coaching firm Challenger, Gray & Christmas, which included an analysis of executive departures through September."
"Other high-profile retail CEOs who have left their posts this year include former Kroger CEO Rodney McMullen, who Business Insider previously reported resigned in March after an investigation into his "personal conduct," as well as former Kohl's CEO Ashley Buchanan, who was fired in May, just months after being appointed to the role, after investigators found he had given favorable business deals to a close acquaintence. Satish Malhotra, CEO of The Container Store, resigned in March after the company's restructuring."
Walmart CEO Doug McMillon plans to retire in January after 12 years as CEO and will be succeeded by John Furner on February 1. Retail leader turnover increased 79% year over year, with 43 retail CEOs leaving between January and September 2025 versus 24 in the same period in 2024, according to Challenger, Gray & Christmas. High-profile exits included Rodney McMullen (Kroger), Ashley Buchanan (Kohl's), Satish Malhotra (The Container Store), Vivek Sankaran (Albertsons), and Target CEO Brian Cornell, who plans to retire in February. CEO turnover outside retail remained lower, with September marking the fourth consecutive month of declines across industries.
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