Walmart, Coca-Cola CEOs cite AI shift behind exit decisions
What's the story
The growing influence of artificial intelligence (AI) is not just reshaping jobs globally, but also affecting the top leadership at some of the world's biggest corporations. In a recent interview with CNBC, Coca-Cola CEO James Quincey and Walmart CEO Doug McMillon revealed that their decisions to step down were influenced by the rise of AI. They both highlighted a major shift driven by this technology and stressed the need for new leadership in this era.
Leadership change
Quincey's transition for AI era
Quincey, who has been at the helm of Coca-Cola since 2017, will be succeeded by current COO Henrique Braun. He said that while the company made strides in a "pre-AI" phase, a major shift is now underway. "My job is also to think who's the best team to put on the field to get the next wave done," Quincey told CNBC.
AI impact
McMillon's retail transformation shift
Former Walmart CEO Doug McMillon also tied his decision to step down with the rise of AI and its potential impact on retail. "With what's happening with AI, I could start this next big set of transformations with AI, but I couldn't finish," he said. McMillon explained that the scale of upcoming changes made him realize it was time to hand over leadership.