Instagram CEO Joins Walmart Board of Directors
Kevin Systrom co-founded the photo-sharing service
Instagram CEO Kevin Systrom has joined Walmart's board of directors, the retail chain announced Monday.
Systrom's appointment was effective Friday, with him also joining Walmart's technology and e-commerce committee and its compensation, nominating and governance committee.
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“Kevin’s entrepreneurial background and his technical and digital expertise will be invaluable as we further connect with customers and deploy new capabilities through e-commerce and mobile channels,” Walmart chairman Rob Walton said in a statement. “Walmart is investing in e-commerce capabilities through talent, technology and fulfillment. Kevin’s passion and deep knowledge of social media align with our focus to engage customers through our digital and physical channels.”
Systrom added: “Walmart has had a profound impact as a global leader in retail. It’s an honor to join the Walmart board and have an opportunity to help provide more convenient and flexible ways for people to shop.”
Systrom gives Walmart additional technology expertise so that it can better compete with online rivals like Amazon.
New Walmart CEO Doug McMillon has made boosting online sales one of his top priorities.
Systrom co-founded Instagram in 2010. The photo-and-video sharing social network was acquired by Facebook in 2012.
Systrom's appointment marks the latest development in Walmart's relationship with Facebook, which includes marketing consultations and close ties between Facebook COO Sheryl Sandberg and Walmart's former and current CEOs, The Wall Street Journal reported.