Walmart's E-Commerce Chief Marc Lore to Step Down After Nearly Five Years

Under Lore's stewardship, Walmart led the redesign of the company's website and app.

By Associated Press | Updated: 16 January 2021 11:02 IST

Walmart's E-Commerce Chief Marc Lore to Step Down After Nearly Five Years

Marc Lore was also founder of Quidsi, the parent of Diapers.com

Highlights

Marc Lore joined the company in September 2016
Lore notified Walmart on Thursday of his intent to leave on January 31
He will continue to serve in a consulting role as a strategic adviser

Marc Lore, Walmart's e-commerce chief, is leaving the world's largest retailer, nearly five years after he joined to super charge its online business amid stiffer competition from online leader Amazon.

Under Lore's stewardship, Walmart led the redesign of the company's website and app, expanded its online assortment from 10 million items to more than 80 million and transformed its delivery network to add two-day and same-day delivery.

Lore, who served as CEO of Walmart's e-commerce division, joined the company in September 2016 when Walmart bought Jet.com, an e-commerce company he founded, for more than $3 billion. Jet's pricing technology was built on an algorithm that determined which sellers were the most efficient in value and shipping and adjusted prices based on what items were in the checkout cart as well as how far the desired products are from the shoppers' home. Walmart has phased out the Jet business and incorporated some of the technology into the overall business.

Flipkart Big Saving Days Sale to Start on January 20

"Since the Jet acquisition, we've seen our e-commerce growth accelerate, including rapid growth in our online grocery business," said Doug McMillon, Walmart president and CEO, in a memo to employees. "Marc's leadership helped ensure we were positioned to respond to the demand driven by the pandemic this year."

He added, "Marc committed to a minimum of five years with us, which I know felt like a long time for an entrepreneur like him and that time has flown by."

Lore also brought to the role a rich e-commerce resume as the founder of Quidsi, the parent of Diapers.com, which was bought by Amazon for $500 million in 2010.

Amazon Faces Class-Action Lawsuit Over Inflated Ebook Pricing

Lore notified Walmart on Thursday of his intent to leave on January 31, according to a regulatory filing. He will continue to serve in a consulting role as a strategic adviser to the company through September. After Lore leaves, the U.S. business, including all aspects of US retail e-commerce, will continue to report to John Furner, CEO of Walmart's US operations.

Does WhatsApp's new privacy policy spell the end for your privacy? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.