Contrary to rumors that surfaced on Wednesday, Walmart’s top e-commerce guy says he’s staying put.
As expected, a report in The New York Post insinuating that Marc Lore was planning his exit from the Bentonville, Arkansas-based behemoth prompted a swift response.
Lore, who is the president and CEO of Walmart.com, told CNBC he is “absolutely not” leaving the company. “I feel like we are just getting started. I think we are having a ton of fun…We are making great progress on the value proposition.”
The executive, who is credited with breathing life into the big-box store’s online aspirations, launched Jet.com and Diapers.com parent Quidsi. Just over a year since Walmart acquired Jet, thereby securing Lore’s expertise, e-commerce sales leapt 50 percent.
The surge took a nosedive in the fourth quarter, however, prompting speculation about whether Walmart has what it takes to move into Amazon territory. The company has been making steady progress in that direction with the purchase of digitally native brands like Bonobos and ModCloth and securing Lord & Taylor as the flagship brand on its soon-to-launch digital mall. Next up is a redesign of the company’s site, which Lore is said to be leading.
Questions about a possible culture clash between Jet and Walmart gained fuel in an item in Fortune that ran a year after the acquisition. In it, the publication highlighted points of friction like Walmart putting an end to the Jet.com lax liquor policy. Ultimately, the retailer decided to allow the formerly freewheeling startup to resume its in-office happy hours—a sign that maybe the two could learn to coexist even if their methods were different.
For his part, Lore is making it known he’s in it for the long hall, telling the news source, “While we are thinking about winning today, we are planting seeds for tomorrow as well.”
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