Under Lore's stewardship, Walmart led the redesign of the
company's website and app, expanded its online assortment from 10 million items
to more than 80 million and transformed its delivery network to add two-day and
same-day delivery.
Lore, who served as CEO of Walmart's e-commerce division,
joined the company in September 2016 when Walmart bought Jet.com, an e-commerce
company he founded, for more than $3 billion. Jet's pricing technology was
built on an algorithm that determined which sellers were the most efficient in
value and shipping and adjusted prices based on what items were in the checkout
cart as well as how far the desired products are from the shoppers' home.
Walmart has phased out the Jet business and incorporated some of the technology
into the overall business.
"Since the Jet acquisition, we've seen our e-commerce
growth accelerate, including rapid growth in our online grocery business,"
said Doug McMillon, Walmart president and CEO, in a memo to employees.
"Marc's leadership helped ensure we were positioned to respond to the
demand driven by the pandemic this year."
He added, "Marc committed to a minimum of five years
with us, which I know felt like a long time for an entrepreneur like him and
that time has flown by."
Lore also brought to the role a rich e-commerce resume as
the founder of Quidsi, the parent of Diapers.com, which was bought by Amazon
for $500 million in 2010.
Lore notified Walmart on Thursday of his intent to leave on
January 31, according to a regulatory filing. He will continue to serve in a
consulting role as a strategic adviser to the company through September.
After Lore leaves, the U.S. business, including all aspects
of US retail e-commerce, will continue to report to John Furner, CEO of
Walmart's US operations.