Walmart e-commerce boss Marc Lore announces departure

Marc Lore, President and CEO, Walmart E-commerce US, is leaving the big box retailer at the end of the month.

He will stay on as a consultant through to September.

Lore came onboard in 2016 when Walmart acquired Jet.com, the startup that he co-founded, for $3.3 billion.

In a LinkedIn post, he said: “Today we announced to the Walmart team that I’ll be transitioning from associate to strategic advisor.”

Also of interest: Walmart shuts down Jet.com as online sales surge

He added: “Reflecting on the past few years with so much pride. Walmart changed my life and the work we did together will keep changing the lives of customers for years to come.”

“It has been an honour to be a part of the Walmart family and I look forward to providing advice and ideas in the future.”

“Looking forward, I’ll be taking some time off and plan to continue working with several startups. Excited to keep you all up-to-date on what’s next.”

Lore’s team will now report to Walmart US CEO John Furner. Walmart had previously combined its store and e-commerce teams.

A company wide email credited Lore for the pace of the retailer’s e-commerce growth and its ability to keep up with online demand during the coronavirus pandemic.