Senior Walmart executives depart amid rejig under new CEO, memo shows

Walmart is undergoing a major leadership overhaul under CEO John Furner, who took over from Doug McMillon in February. Two senior executives, Tom Ward and Cedric Clark, are leaving the company. Ward, chief operating officer of Sam’s Club, will retire by the end of the month after over a decade with Walmart, including roles as Walmart U.S.’s chief e-commerce officer. Clark, the U.S. store operations chief, will also depart, though no official date has been announced. The changes align with Furner’s push for a technology-driven strategy, focusing on expanding Walmart’s marketplace and delivery services while targeting higher-income shoppers. The company recently cut 1,000 roles to streamline operations, reflecting broader economic pressures, including inflation that disproportionately affects lower-income households. Despite softer consumer spending, Walmart reiterated conservative annual sales and profit targets on Thursday. It expects net sales to reach the high end of its guidance, citing its scale as a key advantage in keeping prices low amid tariffs and geopolitical volatility. Walmart has reported nearly a decade of consecutive quarterly revenue growth, with shares hitting a record high this week. Competitor Target, however, doubled its annual sales forecast while warning of a challenging macroeconomic environment. Other grocers like Kroger and Albertsons also provided cautious annual outlooks in recent earnings reports. The leadership shifts at Walmart come as the retailer navigates inflationary pressures while balancing growth in digital and delivery services.