In November, Walmart announced its new CEO: U.S. chief John Furner. That major decision—who will become the fifth CEO of the world’s largest retailer—meant that the job didn’t go to Walmart International CEO Kath McLay, who had also been seen as a contender.
Yesterday afternoon, Walmart announced that McLay will depart Walmart at the end of the month, staying on to help with the transition through Q1. The Australian exec has been at Walmart for a decade and served as CEO of Sam’s Club before taking over Walmart International; she was No. 25 on the 2025 Most Powerful Women list. “It’s been a privilege to work at Walmart over the past decade,” McLay was quoted saying in a Walmart press release. “The roles I’ve held at the company have been extraordinary, filled with opportunities to have an impact on communities, touch lives, serve customers and members, and lead with a sense of purpose. Walmart provided me the ability to make a real difference in the world, and I am truly grateful. I’ve said it before, and I believe it more than ever: The world is a better place because Walmart is in it.”
It’s not surprising that McLay would leave Walmart after seemingly being passed over for the top job. Nor is it surprising that a new CEO would want to make his mark; indeed, McLay’s departure is part of a broader leadership reshuffle. McLay hasn’t said anything about what she might do next; she will no doubt have options.
While of course it’s always a bummer to see talented female execs leave behind major positions of influence, Furner’s leadership overhaul includes another promotion of note. Walmart U.S. chief merchandising officer Latriece Watkins will become CEO of Sam’s Club, a position previously held by McLay, Roz Brewer, and Chris Nicholas, who was just named McLay’s successor as Walmart International CEO.
My colleague Phil Wahba wrote about Watkins in 2024 as part of a trio of women choosing the $650 billion worth of goods Walmart sells each year. As chief merchandising officer for Walmart U.S., Watkins was responsible for 69% of that $650 billion in products.
This morning I asked Phil, a veteran retail reporter, what we should know about Watkins as she steps into this new role. He says: “As chief merchant of Walmart’s $500 billion-a-year U.S. business, Watkins has played a central role in shifting the retail giant’s merchandise assortment to reach a larger clientele, particularly middle- and even upper-middle-class shoppers. That has included dramatically elevating Walmart’s store brands in fashion, beauty and home furnishing, all while making sure not to forget lower-income earners.” She will be one of the highest-profile Black female execs in American business.
Catch up on Watkins’ background here and stay tuned as we find out more about McLay’s next moves… More news below.
Emma Hinchliffe
emma.hinchliffe@fortune.com
The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world. Subscribe here.
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"People think this happened overnight, but it definitely did not. This is my stuff, and I’m very proud of it. He is doing a good job of publicizing it, I think, better than I did, in terms of bragging about all this."
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