Lore is leaving shortly after the company merged its once separate online division into its larger business. After Lore retires on January 31, the online business will report to Walmart’s US chief John Furger, the company said in a filing.
“With our structural changes behind us, we have concluded it’s time for Marc to transition out of his everyday role at Walmart,” McMillon said in the memo.
Walmart’s online business, while still much smaller than Amazon’s, has grown rapidly in recent years. Walmart said in November that it offers curbside pickup from 3,700 stores and home delivery from 2,700.
“Lore can leave Walmart and effectively declare victory,” said Andrew Lipsman, retail analyst at eMarketer. “He’s had a tremendously successful run, helping drive huge growth in sales and market share in Walmart’s previously laggard e-commerce business.”
This is a developing story and will be updated.