Walmart (NYSE: WMT) disclosed that Marc Lore notified of his intent to retire from his position of Executive Vice President, President and Chief Executive Officer, U.S. eCommerce, effective January 31, 2021. Mr. Lore joined the Company in September 2016 in connection with the Company’s acquisition of Jet.com, where he was previously the founder and CEO

Mr. Lore will continue to serve in a consulting role as a strategic advisor to the Company through September 2021.

"We view Mr. Lore's departure as an incremental negative in that it removes a visionary and entrepreneurial executive from the company," Quovadis Capital analyst John Zolidis said. "It could also indicate that a shift in direction with regard to omni-channel or digital strategy is coming which will be less focused on aggressive moves to drive revenues at the expense of profitability. Alternatively, Mr. Lore's departure could suggest that further transformational moves within the digital and e-commerce channels are becoming more difficult to achieve."