Walmart Inc. (NASDAQ: WMT) is facing a significant leadership shake-up just months after announcing that John Furner would replace Doug McMillon as chief executive officer.
According to a report by The Wall Street Journal’s Sarah Nassauer, two senior executives are set to depart the retail giant as the transition takes shape.
Sam’s Club Chief Operating Officer Tom Ward, a company veteran of nearly two decades, is among those leaving Walmart amid the ongoing leadership change.
Cedric Clark, who serves as head of U.S. stores, is also departing the company, adding further depth to the executive turnover now underway.
On May 22, 2026, RBC Capital lowered its price target on Walmart to $137 from $140, while maintaining an Outperform rating on the shares following first-quarter results.
RBC noted that the stock carried a high bar heading into the earnings print at 40 times expected earnings, and flagged that higher fuel costs led to slightly worse than anticipated flow-through.
JPMorgan took a more optimistic view, adding Walmart to its Analyst Focus List as a growth idea while maintaining an Overweight rating and a $137 price target.
JPMorgan argued that the post-earnings share selloff represents a buying opportunity, citing Walmart’s accelerating share gains and its alternate profit pool strategy, which the firm described as a “flywheel.”
Walmart operates retail and wholesale stores and clubs, e-commerce websites, and mobile applications across markets worldwide.
The combination of executive departures, mixed analyst sentiment, and a leadership transition at the top of the organization puts Walmart at a pivotal moment as it heads into the second half of the fiscal year.
