Retail

Walmart’s Marc Lore to step down after jumpstarting retailer’s digital business

0


Marc Lore, CEO, Walmart eCommerce

Scott Mlyn | CNBC

The leader of Walmart’s U.S. e-commerce business, Marc Lore, is leaving the big-box retailer, according a filing on Friday by the retailer.

Lore joined the company in 2016 when Walmart acquired the start-up he co-founded, Jet.com, for $3.3 billion. With the pricey acquisition, the legacy brick-and-mortar retailer sought to jumpstart its digital business and play catch-up to rival Amazon. The deal was seen by investors and analysts, in part, as a way for Walmart to gain the digital savvy of Lore and his team. Lore, a serial entrepreneur, had deep experience in e-commerce and sold his former company, Quidsi, the parent of Diapers.com, to…



Source cnbc.com

JPMorgan earnings Q4 2020 beat profit and revenue estimates

Previous article

Public cash must tackle buyer anxieties over EVs, Renault says

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Retail