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CNBC reports that Marc Lore, who runs Walmart’s e-commerce business in the US, put to rest speculation that he may be leaving the company after CEO Doug McMillon said that it would be adjusting its approach to e-commerce after a fourth quarter that was disappointing.

“Absolutely not,” he told CNBC, adding, “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 … "If anything, trust is building more between me and Doug [McMillon] and the board, and we have a lot of work to do and a lot of things to be really excited about in the future.”

Lore launched Jet as an alternative to both Walmart and Amazon, then sold the company to Walmart for $3.3 billion. Lore then was handed the keys to Walmart’s US e-commerce business by Walmart CEO Doug McMillon.

But after Walmart acknowledged both a slowdown in online sales and its e-commerce investments putting pressure on margins, the company said it would “rein in subsidies of Jet’s growth,” leading to speculation that Lore might leave.
KC's View:
I’m glad Lore is staying. He makes Walmart better, which forces everybody else to be better….or die.