Walmart and Target have new CEOs

Two of the largest retailers in the country, Walmart and Target, now have new CEOs at the helm. Here is a look at who they are.

Walmart’s new leader, John Furner, will be managing the company’s 2.1 million employees and nearly 11,000 stores across 19 countries. He is presiding over Doug McMillon, who was in the role for almost 12 years.

Furner began as a part-time associate in 1993 and moved through several departments, including a stint in Walmart China and a successful tenure as CEO of Sam’s Club, where he delivered 11 consecutive quarters of growth.

He has already made waves by boosting manager compensation and reinstating bonuses for hourly workers. He said the move was meant to “make managers feel like owners.”

Furner maintains that while AI will shift job descriptions, Walmart’s total headcount will remain steady.

Meanwhile, Target’s new CEO, Michael Fiddelke, is taking over during one of the most turbulent periods in the retailer’s history.

The company’s stock is down 25% over the past year, and sales have been stagnant for nearly three years.

Additionally, anti-ICE protests in Target’s home base of Minneapolis have increased pressure on the retailer. There are internal demands for the company to distance itself from immigration authorities.

Fiddelke has already addressed the community violence. He must operate under the shadow of his predecessor, Brian Cornell, who remains as executive chairman.