WASHINGTON (Reuters) - Walmart Inc said on Monday it has hired Scott Eckert to run its investment arm and startup incubator, Store No. 8, whose aim is to expand the retailer’s e-commerce business in partnership with retail startups, venture capitalists and entrepreneurs.
Eckert, a former executive of Bain Capital Ventures, will take over from Lori Flees, who ran Store No. 8, in addition to working as senior vice president of health and wellness at Walmart-owned Sam’s Club, according to a memo sent by retailer’s head of U.S. e-commerce, Marc Lore, to its employees on Monday, a copy of which was seen by Reuters.