Walmart CEO plans to stay in role for at least three more years – WSJ

(Reuters) – Walmart Inc Chief Executive Doug McMillon, 56, plans to helm the country’s largest retailer for at least three more years as the company continues work to identify a successor, the Wall Street Journal reported on Thursday.

McMillon’s plans to stay in the role for more than a decade will extend the company’s timeline for finding its next leader, the report added, citing people familiar with the matter.

Walmart did not immediately respond to a Reuters request for comment.

The WSJ said Kathryn McLay, 49, the head of Walmart warehouse chain Sam’s Club, is also among those seen as potential candidates.

Walmart last week struck a cautious note in its economic outlook for 2023 as the retail bellwether forecast full-year earnings below estimates and warned that tight spending by consumers could pressure profit margins.

(This story has been corrected to say last week, not Tuesday, in the last paragraph, and fixes a grammatical error in paragraph 3)

(Reporting by Granth Vanaik in Bengaluru; Editing by Shinjini Ganguli)