John Furner has been named by Walmart US as the company's new president and CEO, following a successful five years for the business segment under Greg Foran.

Furner will report directly to Walmart president and CEO Doug McMillon, and the move will be effective Nov. 1.

John Furner, president and CEO of Sam's Club, on May 13, 2019, in Bentonville, Ark.

Foran, who is taking a role as CEO at Air New Zealand Limited, will stay on with Walmart through Jan. 31 to ensure a smooth transition.

“John has done a fantastic job at Sam’s Club, and he will continue the momentum we have in Walmart U.S.,” said McMillon.

“John knows our business well, having held many different jobs in the company over more than 25 years, and he is helping transform it for the future."

Furner, 45, started with Walmart as an hourly associate in 1993, working part-time in the garden center of a supercenter. He worked his way up through a number of frontline leadership roles, later becoming a store manager, district manager and buyer.

He has held leadership roles in operations, merchandising and sourcing in Walmart U.S., Sam’s Club and Walmart International, where he served at Walmart China as chief merchandising and marketing officer.

Prior to becoming Sam’s Club CEO in 2017, he was chief merchandising officer for Sam’s Club. Furner will partner with Walmart U.S. eCommerce CEO Marc Lore, who also reports to McMillon, to deliver a seamless omnichannel experience for Walmart’s U.S. customers.

“I’m grateful for this opportunity and ready to get started,” said Furner. “There’s no better place than Walmart U.S. to touch the lives of millions of customers and associates.

"Together with the team, we will build on the progress under Greg’s leadership and continue to make Walmart an even better place to work and shop. I also want to thank the Sam’s Club team. My years with you have been amazing.”

The company will announce Furner’s successor as President and CEO of Sam’s Club at a later date.