Walmart (WMT) has announced the retirement of Marc Lore, the biggest Walmart’s e-commerce chief Marc Lore to retire at 49 by January. 31 and remain as a strategic advisor till September 2021.
Lore came to join Walmart in September 2016 as part of Walmart’s $3.3 billion acquisition of Jet.com, the e-commerce site the entrepreneur founded in 2015. Yahoo News reported that Lore had devoted to a minimum of five years with the retailer, At the time of the acquisition and Lore will remain as a strategic advisor to the retailer.
Marc Lore to retire at 49 in Walmart with great contributions
Lore’s work in Walmart side of e-commerce business has been described as “game-changing.” by Walmart CEO Doug McMillion.
McMillion said he has learned a lot from him, and rapid growth in the grocery business was due to Marc’s leadership.
Lore’s impact during the COVID-19 Pandemic
During the COVID-19 pandemic, when people were avoiding crowds, the e-commerce sales skyrocketed, and Walmart recorded a rise in online sales of about 79% in the third quarter. While in the second quarter, the firm online sales rose to 97%. Walmart website was redesigned and the app was improved under Lore.
Shoppers with card and money were able to have more items of the platform and this increase the growth of the company.