Wal-Mart Stores Inc. named Kevin Systrom, co-founder of the Instagram mobile photo-sharing application, as its 15th board member.
Systrom, 30, will serve on the board’s technology and e-commerce committee and the compensation, nominating and governance panel, Arkansas-based Wal-Mart said in a statement. The entrepreneur remains chief executive officer of Instagram, which was acquired by social-networking website Facebook Inc. in 2012.
Wal-Mart, the world’s largest retailer, has been bolstering its e-commerce presence as it faces mounting pressure to compete with Amazon.com Inc. and to squeeze more growth from the Internet. It redesigned its website last month to be more compatible with tablets and mobile devices, and said it was modernising the technology used to run its search engine and recommendation tools.
“Wal-Mart is investing in e-commerce capabilities through talent, technology and fulfilment,” chairman Rob Walton said in the statement. “Kevin’s passion and deep knowledge of social media align with our focus to engage customers through our digital and physical channels.”
Systrom’s appointment to the board was effective 26 September.
Bloomberg News, edited by ESM
