AI is impacting roles worldwide. Its growing impact is also beginning to shape leadership decisions at some of the world’s largest companies. Two major CEOs — from Coca-Cola and Walmart — have recently said that the rise of AI played a role in their decision to step down. Speaking in separate interviews with CNBC, both leaders pointed to a major shift driven by AI and said the next phase of growth would require new leadership. Their comments offer insight into how top executives are preparing for the next wave of technological change across industries.
Coca-Cola CEO James Quincey says he decided to step down due to AI
In the CNBC interview, Coca-Cola CEO James Quincey said his decision to step down was influenced by the changing business environment and the role AI is expected to play in the future.“My job is also to think who’s the best team to put on the field to get the next wave done,” Quincey told the publication. “And I concluded that, actually, it was time to put someone else on the field for the next wave of growth.”Quincey, who has led the company since 2017, will be replaced by current COO Henrique Braun. He said the company had made progress in a “pre-AI” phase, but a major shift is now underway.“In a pre-AI, a pre-gen-AI mode, we made a lot of progress. But now there’s a huge new shift coming along,” he said.
What Walmart CEO Doug McMillon said on timing his exit
Former Walmart CEO Doug McMillon also linked his decision to step down to the rise of AI and the changes it will bring to the retail sector.“With what’s happening with AI, I could start this next big set of transformations with AI, but I couldn’t finish,” McMillon has said.He further added that the scale of upcoming changes made him feel it was the right time to hand over leadership.“About a year ago, I really started feeling like this next run, you could see what agentic commerce was going to look like, the vision for AI shopping, and I started thinking about everything that needs to happen over the next few years, and it really caused me to think that now was the right time [to step down],” he said.
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