It has been less than three months since Walmart acquired Jet.com for $3.3 billion and the deal is already causing a ruckus across its e-Commerce executive team. Both Fernando Madeira, President and CEO of Walmart.com, and Dianne Mills, SVP of Global e-Commerce Human Resources, will be departing. Their roles will not be formally filled as the team reshapes following the acquisition, according to CNBC.
Additionally, Neil Ashe, President and CEO of Global e-Commerce, announced his departure, while Brent Beabout, SVP of e-Commerce Supply Chain, has already left the company. Beabout has been succeeded by Jet.com Co-Founder Nate Faust, while the company’s Founder Marc Lore will handle Walmart’s e-Commerce operations.
Walmart has been making strong efforts to improve its e-Commerce strategies in order to better compete with Amazon. In October 2016, shortly after its acquisition of Jet.com, the company enhanced its supply chain by doubling the number of warehouses dedicated to online sales. The Wall Street Journal also reported that Walmart will be adopting Jet.com’s “smart basket” technology, which can lower the amount of a customer’s purchase based on factors such as using a debit card to pay, forgoing a return option or buying items that are stocked in the same warehouse.
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A Walmart spokesperson told The Wall Street Journal that Lore is “still going through and analyzing the organizations and seeing what makes the most sense for running Walmart.com and Jet.com.”
Walmart still has a long way to go before it parallels Amazon. In the last fiscal year, the company’s global e-Commerce sales were nearly $14 billion, a hefty sum but still far less than Amazon’s $107 billion in revenue last year. Amazon’s revenue figure also includes its lucrative web services business.
