The world's largest retailer, Walmart, has poached Kevin Systrom, Instagram co-founder and CEO. According to HFNmag.com, Systrom is the 15th member of the retailer's board. He also serves as a member of the company's Technology and E-commerce Committee and its Compensation, Nominating and Governance Committee.
Rob Walton, chairman of Walmart, stated, "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. Kevin's passion and deep knowledge of social media align with our focus to engage customers through our digital and physical channels."
The photo and video-sharing social network, Instagram, was founded in 2010 and has since been acquired by Facebook for $1 billion. As the current CEO of the social media platform, Systrom oversees the 200 million monthly profiles and the daily operations involved.
Since taking over the further development of Instagram, Systrom has been listed on Fortune's 40-under-40 and Time's 100 most influential people since 2011. With a B.S. in Management and Engineering from Stanford University, Systrom hopes to utilize his expertise to reach a new level of accessibility for Walmart shoppers and further business opportunities.
Systrom said, "It's an honor to join the Walmart Board and have an opportunity to help provide convenient and flexible ways for people to shop."
With major competitors and e-commerce frontrunners such as Amazon and Alibaba, it seems fitting for Systrom to join the retail conglomerate and pave new roads for improvement and continued success for Walmart.
