INDUSTRY NEWS | ANALYSIS
New Walmart CEO is not afraid to take risks, analyst says John Furner spent his first days as the retail giant’s leader walking stores, chain facilities and support offices
According to Chen, Furner steps into a position of strength, and his background aligns with the retailer’s future. “You need a leader, but someone at the top also needs to motivate employees across the organization,” Chen said. “As you evolve the technology platform, you need both vision and execution.” Furner made several executive moves ahead of his first day as CEO. Among them, Latriece Watkins was named president and CEO of Sam’s Club U.S. Watkins previously served as executive vice president and chief merchandising officer for Walmart U.S. She began her career with Walmart as an intern in 1997 and has held a range of leadership roles at Sam’s Club and Walmart U.S. The company credited Watkins with reshaping the Walmart U.S. assortment strategy, driv - ing operational excellence and ensuring a consistent, trusted shopping experience. Chen said Walmart-owned warehouse retailer Sam’s Club sits in a strong position, largely due to former CEO Chris Nicholas’ focus on integrating technology while main - taining a merchant-led approach. David Guggina now serves as CEO of Walmart U.S., replacing Furner. Guggina spent the past eight years leading Walmart’s ecommerce, supply chain, innovation and automation efforts. He has not worked in stores or merchandising, but Chen said this reflects the type of calculated risk Furner is accustomed to taking. Furner also takes over the helm when Amazon is beating down the door to become a legitimate grocery leader, a title that has been held by Walmart for years with over 4,500 locations. Amazon announced it was closing all of its Amazon Fresh and Amazon Go locations in the U.S., and will instead focus more on its brick-and-mortar locations under the Whole Foods Market brand. The Seat - tle-based delivery company plans to open up 100 new Whole Foods locations over the next few years while focusing on its same- day fresh grocery delivery. —Bill Wilson
Walmart’s new CEO John Furner greets workers at a store.
WALMART’S NEW CEO John Furner could be called a retailer gunslinger. He’s not afraid to take risks, and as he works through his first weeks replacing former CEO Doug McMillon, he may be starting a tenure that takes more risks than anyone in the retailer’s history. In his first companywide memo as CEO in early February, Furner said he planned to spend his first few weeks in stores, supply chain facilities and support offices, where he will speak directly with workers. He also had one “simple ask” for all Walmart employees: “Tell me one thing that slows you down or makes it harder to do your job.” For a company that has spent the past two years investing heavily in technology to make associates’ jobs easier, Furner’s request may seem surprising. It reinforces the notion that the retailer will continue investing in innovation to improve operations. “You’re running a powerhouse, a dominant grocery player, which requires a ton of exe - cution and skill,” said Oliver Chen, who leads
retail, luxury and new platforms coverage at financial services firm Cowen Inc. “He’s been a leader throughout [former Walmart CEO] Doug McMillon’s tenure, meaning there’s been a ton of tech.” Furner served as president and CEO of Walmart U.S. before his promotion to lead Walmart Inc. Before that, he was president and CEO of Sam’s Club. He began his career with the Bentonville, Ark.-based company in 2006 as vice president and divisional mer - chandise manager of hardlines and seasonal at Sam’s Club. Chen described Furner as a leader who “has a lot of good humility as well as vision.” He added that Furner has a higher appe - tite for risk than McMillon, noting that risk-taking becomes necessary in a technol - ogy-driven environment. “In this age of change … you really need to do your best to anticipate innovation,” Chen said. “We’re hitting a new era of commerce where your ability to try things and fail properly will be important.”
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