Walmart Inc. has hired Chris Cracchiolo to lead Walmart+, the membership program it introduced last September to compete with Amazon.com Inc.’s Prime program.
Cracchiolo, who spent 19 years at New York-based credit card company American Express Inc., will officially become SVP and general manager of Walmart+ on July 12, Bloomberg News reported, citing a memo it had obtained in which Chief Customer Officer Janey Whiteside revealed the executive move. He replaces David Echegoyen, a seasoned marketer who left last month to join Boston-based private-equity firm Cove Hill Partners, and will report to Whiteside, who also once worked at AmEx.
Cracchiolo's most recent role at AmEx was SVP of global rewards and lifestyle benefits, in which capacity he was responsible for the company’s membership rewards program. Cracchiolo's predecessor, Echegoyen, was chief customer officer of Walmart’s now-defunct Jet.com unit before moving to Walmart+.
Whiteside noted in the memo obtained by Bloomberg News, “Walmart+ is an important part of our business and I can’t wait to see how Chris and the team find new ways to deliver for our customers.”
Costing members $98 a year, Walmart+ offers unlimited free home delivery of groceries and other items, in addition to fuel discounts and now discounted prescriptions. According to Morgan Stanley, the program has nearly 12 million members.
Bentonville, Ark.-based Walmart operates more than 11,300 stores under 48 banners in 24 countries, and e-commerce websites, employing 2.2 million-plus associates worldwide. Walmart U.S. is No. 1 on The PG100, Progressive Grocer’s 2021 list of the top food and consumables retailers in North America, while Walmart-owned Sam’s Club ranks No. 9 on the list.