Walmart CEO Doug McMillon is retiring on Jan. 31 next year. John Furner, current Walmart U.S. CEO, will succeed him on Feb. 1, according to a filing. Furner, who has been with the company since 1993, oversees 4,600 stores. McMillon has led the company for over a decade, during which shares rose nearly 300%. Walmart’s stock fell over 2% in premarket trading. Target is also getting a new CEO, Michael Fiddelke, on Feb. 1.

Read more at CNBC: Walmart CEO Doug McMillon to retire in January