What: the departure of the head of Walmart e-commerce.

Why it is important: Marc Lore is the founder of Jet.com that was acquired by Walmart in 2016. He became President and CEO of Walmart U.S. e-commerce when that acquisition was made, but the retailer shut down Jet.com last year.

Walmart has benefited from Jet.com to develop its digital infrastructure, thanks also to Lore’s expertise. Lore has also helped to drive deal decisions to snap up other e-commerce retailers including Bonobos and Modcloth (which Walmart sold in 2019), and strategic moves to leverage its physical stores to expand customer services.

Walmart chief executive officer Doug McMillon said: “the Jet acquisition was critical to jump-starting the progress we  have made the last few years, […]our walmart.com nonfood e-commerce growth accelerated after the arrival of Marc and the [Jet team].”

Walmart’s Marc Lore to Step Down From Retailer – WWD

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