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Fortune

Phil Wahba

Walmart and Target are both getting new CEOs—one succession plan has gone smoother than the other

Target Walmart Doug McMillon Brian Cornell Fortune Michael Fiddelke Phil Wahba Nvidia Walmart US

Doug McMillon, chief executive officer of Walmart Inc., during the 2024 CES event in Las Vegas, Nevada, US, on Tuesday, Jan. 9, 2024. (Credit: David Paul Morris/Bloomberg via Getty Images)

In today’s CEO Daily: Phil Wahba digs into two retail CEOs’ succession plans.
The big story: Nvidia reports blockbuster earnings.
The markets: Nvidia sparks a rally.
Plus: All the news and watercooler chat from Fortune.

Good morning. This week, a pair of earnings reports—those of Walmart and Target—offer up a reminder of how tricky CEO succession planning can be. Both retailers’ CEOs—Walmart’s Doug McMillon and Target’s Brian Cornell—started in 2014 and are leaving in February, handing their companies off to lieutenants who are company lifers. But that’s where the succession similarities end.

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