Walmart has hired Scott Eckert to run its investment arm and startup incubator, Store No. 8.
Eckert, a former Bain Capital Ventures executive, will take over from Lori Flees. She ran Store No. 8, in addition to working as Senior VP of Health and Wellness at Sam’s Club. Flees will now focus on that role.
In a memo sent to employees, Walmart’s Head of US E-commerce, Marc Lore said that Eckert has “built companies, raised substantial venture capital and brought disruptive technologies to market. He has a record of turning innovative ideas into successful businesses and building them to scale, either within large organisations or as stand-alone companies.”