Marc Lore, President and CEO of U.S. Ecommerce at Walmart, will retire at the end of January 2021. He will maintain a relationship with the retailer as a strategic advisor in addition to working with several unnamed startups, according to a post on LinkedIn.
Lore joined Walmart in 2016 when the retail giant acquired Jet.com in 2016, and was named head of U.S. Ecommerce approximately three months later. Jet.com was absorbed into the Walmart.com business in June 2019, with reports of Walmart’s overall ecommerce losses approaching $1 billion surfacing the next month.
At the time, Lore was reportedly under pressure to curb the losses and reduce the amount spent on ecommerce initiatives. The retailer continued to streamline its online operations through the merger of its online and in-store buying teams in February 2020. Additionally, the ecommerce division was one of the divisions hit by layoffs in July 2020.
However, Lore didn’t mention any of these decisions in his departing message. Instead, he focused on the retailer’s agility and devotion to the shopping experience.
“One of the most admirable traits of Walmart is everyone’s focus on the customer,” said Lore in the LinkedIn post. “We didn’t just want to be the biggest — we wanted to be the best, for them. All of our progress is because of a lot of great people across the business, and of course [President and CEO of Walmart U.S.] John Furner. He’s been a great partner through the years in both building the business and creating the integrated, omni U.S. team we now have today. It aligns with how customers expect us to act and I can’t wait to see what the team delivers next.”