Kevin Systrom, cofounder and chief executive officer of Instagram, has joined the board of Wal-Mart Stores Inc.
Systrom’s addition raises the number of directors at the retail giant to 15. He will serve on the board’s technology and e-commerce committee and its compensation, nominating and governance committee.
“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,” said Rob Walton, chairman of the Bentonville, Ark.-based retailer. “Wal-Mart 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.”
“Wal-Mart has had a profound impact as a global leader in retail,” said Systrom. “It’s an honor to join the Wal-Mart board and have an opportunity to help provide more convenient and flexible ways for people to shop.”
Systrom was among those who cofounded Instagram, the photo and video sharing social networking service, in 2010. The company was acquired by Facebook in August 2012. As ceo, he has seen the service grow to more than 200 million monthly active accounts.
Wal-Mart’s board had shrunk to 14 members from 16 following its annual meeting in June when H. Lee Scott Jr. and Christopher Williams didn’t stand for reelection as directors. Scott, a director since 1999, retired as president and ceo of Wal-Mart in January 2009 and served as chairman of its executive committee for an additional two years. Williams, who had chaired Wal-Mart’s audit committee and spent 10 years on the board, is chairman and ceo of The Williams Capital Group, an investment bank.