Walmart's (WMT) CTO is leaving the company

NYSE: WMT | Walmart Inc. Common Stock News, Ratings, and Charts

WMT – King led Walmart’s transition from a retailer to more of a tech company.

  • Walmart CTO Jeremy King is leaving the company, according to a memo obtained by CNBC.
  • King led Walmart’s transition from a retailer to more of a tech company, as the world’s largest retailer worked to bulk up and compete with e-commerce rivals, namely Amazon.
  • It’s not clear where he’ll land next, but his last day will be May 29.

Walmart’s chief technology officer, Jeremy King, is leaving the company, according to a memo obtained by CNBC.

King’s role has been to revamp the company’s technology presence as it looks to compete with e-commerce rivals, namely Amazon. Of late, Walmart is billing itself as a technology company, and not just a retailer, but it has struggled to rebrand itself as more consumers are flocking to the web and mobile to purchase goods ranging from clothing to medicines.

“People all have their own perceptions of Walmart,” King told CNBC, ahead of a recent panel at the SXSW conference, about his role leading Walmart Labs, the retailer’s technology arm. “For years now … I’ve wanted people to understand we are building a tech organization,” he said. “I’ve got a machine learning team. We have some of the best apps in the world.”

King hasn’t announced his next role, but the memo did state that he’ll be starting a “new adventure” soon. It also notes that Fiona Tan, currently the senior vice president of customer technology, will be stepping up into an “elevated role.”

King’s last day with the company is May 29.

Walmart declined to comment beyond the memo.

Walmart Inc. shares fell $0.05 (-0.05%) in after-hours trading Wednesday. Year-to-date, WMT has gained 6.46%, versus a 13.15% rise in the benchmark S&P 500 index during the same period.

WMT currently has a POWR Rating of A (Strong Buy), and is ranked #1 of 18 stocks in the Grocery/Big Box Retailers category.

This article is brought to you courtesy of CNBC.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from!

Top Stories on

NYSE: TWTR | Twitter, Inc. Common Stock News, Ratings, and Charts

What to expect from Twitter (TWTR) when it reports earnings tomorrow?

How has Twitter fared fundamentally in the just-finished first quarter?
NASDAQ: AMZN |, Inc. News, Ratings, and Charts

Estimate: Amazon (AMZN) currently has 103 million U.S. Prime members

A Prime member spends $1,400 on average at Amazon each year vs. the $600 non-Prime Amazon shopper.
NASDAQ: TSLA | Tesla, Inc. News, Ratings, and Charts

Video: Tesla (TSLA) Model S explodes in parking lot

Tesla is investigating after one of its vehicles appeared to explode in China.
NYSE: F | Ford Motor Company Common Stock News, Ratings, and Charts

Ford's (F) stock could be a buying opportunity

I have been an owner of Ford vehicles for many years, and I have learned to like the Lincoln brands
NASDAQ: RCII | Rent-A-Center Inc. News, Ratings, and Charts

Rent-A-Center (RCII) receives an upgrade from Raymond James

The case for turning incrementally bullish on Rent-A-Center Inc is "unmistakably clear."

Read More Stories

More Walmart Inc. Common Stock (WMT) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All WMT News
Page generated in 1.2357 seconds.