Marc Lore is retiring from Walmart as the company continues to move away from individual new e-commerce initiatives and focuses on integrating the online and store business elements.
Lore, who founded Walmart acquisition Jet.com, initially supervised operations that acquired existing e-commerce players and developed new web-based enterprises through its own test kitchen, dubbed Store No. 8. The success of curbside pickup, integrating store and digital operations, and Walmart’s interest in grocery delivery services shifted focus away from pure e-commerce initiatives.
In a filing with the United States Securities and Exchange Commission, Walmart stated:
On January 14, 2021, Marc Lore notified Walmart Inc. of his intent to retire from his position of Executive Vice President, President and Chief Executive Officer, U.S. eCommerce, effective January 31, 2021. Mr. Lore will continue to serve in a consulting role as a strategic advisor to the Company through September 2021. Mr. Lore joined the Company in September 2016 in connection with the Company’s acquisition of Jet.com, Inc. Mr. Lore was previously the founder and CEO of Jet.com. Prior to founding Jet.com, Mr. Lore founded and led various e-commerce and internet companies, including Quidsi and The Pit, Inc.
Following the Jet.com transaction, we unified the Jet.com team with Walmart.com. Over the past couple of years, we have unified our store and eCommerce teams which better enables us to create one brand experience for our customers. That was completed in 2020 and so our Walmart U.S. segment has been operating and continues to operate as an omni-channel business. After Mr. Lore retires on January 31, 2021, the U.S. business, including all the aspects of US retail eCommerce, will continue to report to John Furner, Executive Vice President, President and Chief Executive Officer, Walmart U.S., beginning on February 1, 2021.