00:00This isn't really a surprise. I think most people who know have been following Walmart.
00:06Ferner has been the natural successor to Doug. The timing of it, not so much of a surprise.
00:15And the fact that it's Ferner, also not a surprise. He's sort of been Doug 2.0,
00:20waiting in the wings for a while. So in terms of performance, the shares have more than doubled in
00:26the past five years. I like to look at them compared to Amazon, which has only done half as well.
00:33McMillan has put this company in a good place. Yeah, shares have quadrupled under McMillan.
00:37So some things that he's done in the past 10 years, he's transformed the stores,
00:41made them much nicer places to shop. He's taken Walmart into the Internet age,
00:46become an e-commerce giant, to your point, to compete with Walmart. And they're very competitive
00:50with Walmart on e-commerce. He's raised pay for employees. He's made it a much more competitive
00:55place to work. And he's overseeing the company through a lot of ups and downs. There have been
01:01labor fights. He's seen it through the pandemic. He's had a wild ride.
01:07And I mean, just to that point, they were also one of the first companies to come out and say,
01:11look what we're doing with AI. We found use cases for it. It's also a moment where a lot of these big
01:16companies have started to announce layoffs. What does the future look like for John Ferner,
01:22especially as regards to this? Is this a turning point for Walmart?
01:24I think that's a really good point. I think Doug said it in the statement this morning.
01:29You know, Doug's very much credited with bringing Walmart to the Internet age. And he
01:33calls out Ferner, taking it into the next era, the AI era. We've already heard the company. Doug
01:39has said that AI will impact every job. We've seen it in the past couple of reorgs. And I think
01:46that's a good point. This is likely a turning point for the company.
01:50So it's a little bit too.
01:55I'm going to ask you to get the company on the other side of the country.
01:57And I'm going to ask you to get the company on the other side of the country.
01:59So it's a good point for those makers. And this is what you want to do here.
02:01So you want to hear about the company and talk to the company on the other side of the country.
Comments