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WSJ Minute Briefing

Walmart’s CEO Doug McMillon to Step Down After Over a Decade in the Role

WSJ Minute Briefing

The Wall Street Journal

Business News, News

4.1671 Ratings

🗓️ 14 November 2025

⏱️ 2 minutes

🧾️ Download transcript

Summary

Plus: The U.S. agrees to cut tariffs on Switzerland down to 15%. And Jaguar Land Rover reports a quarterly loss after a crippling cyberattack earlier this year. Zoe Kuhlkin hosts. Sign up for WSJ’s free What’s News newsletter. An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Why are businesses like HelloVet choosing Apple products and services?

0:04.8

So we started the business two years ago.

0:07.2

We had a few people who were used to PCs and this was their first foray into Macs.

0:12.5

But it's been super smooth getting everyone onto those devices and everyone seems really, really happy.

0:18.0

Find out how Mac can help you run and grow your business at apple.com forward slash

0:23.6

HelloVet.

0:29.8

Here's your midday brief for Friday, November 14th.

0:33.5

I'm Zoe Colkin for the Wall Street Journal.

0:36.5

Walmart CEO Doug McMillan is stepping down

0:39.3

after more than a decade in the role. McMillan has led Walmart through a period of fast growth

0:44.5

as the retail giant remade its operations to focus more on online sales in the face of competition

0:50.3

from Amazon. John Ferner, the head of Walmart U.S., will be the new CEO. Ferner is a Walmart

0:57.0

lifer and will be the company's fifth chief executive since founder Sam Walton.

1:03.0

The U.S. will cut tariffs on Switzerland from 39% to 15% after a new trade deal.

1:09.0

The new rate eases a burden on Switzerland's economy, which relies

1:13.1

on exports of goods like watches, chocolate, drugs, and machine tools. President Trump had shocked

1:18.8

Switzerland in August when he imposed the highest tariff the U.S. had given to imports from a

1:23.8

developed nation. And some Swiss companies drew up plans to relocate production to neighboring

1:28.7

countries. A breakthrough came earlier this month after Swiss corporate executives met with Trump

1:33.8

in the Oval Office. Trump immediately ordered his administration to kickstart the stalled

1:38.5

negotiations following the visit. And Jaguar Land Rover is reporting a quarterly loss of almost $750 million

1:46.7

after stopping its assembly lines in September to manage a cyber attack. The attack halted

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