China may have signaled it's going more hard-line on trade, but it could be a good thing, former U.S. negotiator Clete Willems told CNBC.World Economyread more
As China's economic growth declines, some analysts say Beijing may have to spend more on infrastructure, adding to concerns about high debts.China Economyread more
After years of speculation, Neuralink, the brain-machine interface start-up co-founded by Elon Musk, started talking directly to the public on Tuesday.Technologyread more
"The charts, as interpreted by Carley Garner, suggest that the upside in the stock market has gotten more limited," Jim Cramer says.Mad Money with Jim Cramerread more
John Paul Stevens, who served on the Supreme Court for nearly 35 years and became its leading liberal, has died.Politicsread more
A key read on the industry, the Architecture Billings Index, fell into negative territory in June, according to the American Institute for Architects. Inquiries for new...Real Estateread more
The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
Mikaila Ulmer may be just 14 years old, but the Me & the Bees Lemonade founder knows a thing or two about business.Young Successread more
U.S. President Donald Trump said Tuesday that Washington and Beijing have a long way to go on trade, adding that America could place tariffs on an additional $325 billion...Asia Marketsread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
The WTO ruling recognized that the United States had proved that China used state-owned enterprises to subsidize and distort its economy. But the U.S. must accept Chinese...World Economyread more
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 March 29.
Walmart declined to comment beyond the memo.
Read the full memo here:
After nearly eight years and significant contributions across Walmart, Jeremy King, Executive Vice President and Chief Technology Officer – Walmart U.S. and U.S. eCommerce, has decided to leave the company for a new adventure.
Jeremy joined Walmart during the inception of "a startup within the world's largest company" – now known as Walmart Labs, an important enabler for our business. Ever since then, he's had a laser focus on building capabilities that empower our associates and better serve our customers.
During his first few years at Walmart, he built out an engineering and product organization focused on reimagining the platform for our eCommerce engine, while also leading Walmart Labs through 10+ acquisitions, the opening of four new tech offices and, establishing the organization as a user of, and contributor to, the open source community. The operational decisions made during that time were key to the success of our technology team and led to more agile ways of working, transparent toolsets, product-focused roadmaps and a robust patent program.
Over the last two years, Jeremy's role expanded as we evolved Walmart Labs to not only power our U.S. eCommerce platform, but also our U.S. stores. He encouraged true omnichannel thinking and created a unified team of technologists, each focused on one customer. During Jeremy's tenure, we created important technology partnerships with Microsoft, Google, NVIDIA and others that will help carry our digital transformation well into the future.
Jeremy also championed a strong culture at Walmart. He motivated his teams – especially when it came to balancing technical expertise with empathy and people skills – and promoted diversity and inclusion within Walmart and the tech industry. Jeremy helped build and strengthen relationships with organizations like Grace Hopper, Girls Who Code and Path Forward.
While Jeremy will be missed, he leaves us with an outstanding leadership team and organization well-positioned to advance Walmart's strategic priorities seamlessly and with excellence. We wish him the very best in the next phase of his journey.
Jeremy's last day with Walmart will be March 29. While we look for his replacement, we've asked Fiona Tan, Senior Vice President of Customer Technology, Walmart Labs to take an elevated role as liaison for technology and Walmart U.S. and U.S. eCommerce leadership. Fiona is a strong leader with comprehensive knowledge of our technology stack. During this transition, all of Jeremy's directs will continue to lead their teams and report directly to the both of us.
Please join us in thanking Jeremy for his service to Walmart and wishing him well.