Bentonville, Ark. – Marc Lore, the executive vice president, president and CEO of U.S. e-commerce for Walmart, is stepping down from his position at the end of this month.
“With our structural changes behind us, we have concluded it’s time for Marc to transition out of his everyday role at Walmart and finish out the final months of his five-year commitment as a strategic advisor to the company,” said Walmart CEO Doug McMillon in a statement. Lore’s role as a strategic advisor will continue through September.
McMillon said that since Walmart acquired Lore’s company, Jet.com, nearly five years ago, Walmart has seen its e-commerce growth accelerate. “Marc’s leadership helped ensure we were positioned to respond to the demand driven by the pandemic this year. His expertise and aggressiveness have been game-changing. We have learned a lot from him. I have personally learned a lot from him,” he added.
Lore led the redesign of Walmart.com and partnered to complete the company’s app design improvements. He made the choice to shift all of Walmart’s resources to the website rather than the original plan for two brands because he became convinced of the potential of the Walmart brand, according to McMillan.
During his tenure, Walmart expanded its online assortment from around 10 million items to more than 80 million items. The company has also expanded and transformed its e-commerce fulfillment network and now offers same-day delivery on thousands of items.
After Lore’s retirement, all aspect of the U.S. retail e-commerce will report to John Furner, the current executive vice president and CEO of Walmart U.S.