Walmart's Head of E-Commerce Is Retiring This Month
The president and CEO of e-commerce at retail giant Walmart, Inc. (NYSE: WMT) has announced his retirement on Jan. 31, 2021, Barron's reports, sending the company's shares down approximately 1% in Friday trading. The outgoing e-commerce head, Marc Lore, joined Walmart's executive team in September 2016 when Walmart acquired his Jet.com e-commerce site for $3.3 billion.
In the 8-K current report to the U.S. Securities and Exchange Commission (SEC) describing the retirement, Walmart notes Lore will remain present at the company through September in an advisory position.
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Source Fool.com
