AI Is Making CEOs Step Down, Too 

AI isn’t just coming for jobs—it’s also pushing top executives out of the corner office.

BY MOSES JEANFRANCOIS, NEWS WRITER @MOSESJEANS

Illustration: Inc; Photo: Getty Images

It’s not just you or your co-worker who could be replaced by AI; it could be your boss, too. James Quincey, the CEO of Coca-Cola, and Doug McMillon, the CEO of Walmart, are both saying that the pace of artificial intelligence is the reason they’re heading for the exit.

AI has become deeply embedded in global business operations. As of 2026, 78 percent of companies globally have reported using AI, according to a study done by Stanford, with nearly 99 percent of Fortune 500 companies actively using AI as well. 

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Quincey explained to CNBC that AI is gaining momentum quicker than expected, both in its model and need. “My job is also to think who’s the best team to put on the field to get the next wave done … and I concluded that, actually, it was time to put someone else on the field for the next wave of growth.” 

Quincey has been in charge of the beverage giant since 2017, and will be succeeded by current COO Henrique Braun at the end of March. Quincey believes Braun will have the energy needed to equip the company in the AI space, which is constantly transforming. “We made a lot of progress. But now there’s a huge new shift coming along.” 

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Coca-Cola employees have been avid users of AI in recent years, specifically in image generation. In 2024, the company introduced the first human-AI flavor-making collaboration. 

Retail powerhouse Walmart has also been an adopter of AI. Under its CEO, it has been incorporating AI for several years, going as far as to include its own chatbot-style AI called “Sparky” on its mobile app. 

Now-former CEO McMillon told Walmart it needed someone “faster.” “With what’s happening with AI, I could start this next big set of transformations with AI, but I couldn’t finish,” he said.  

After holding his position since 2014, McMillon handed the role back over to John Furner, who was previously the head of Walmart, saying “I think what you’re going to see from the Walmart team is they’re just going to keep scaling what we’ve already started, build some new stuff on top, and then use AI to transform it all.” 

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