Brian Monahan, VP-marketing of Walmart.com who helped develop its Walmart Exchange programmatic media-buying effort, is leaving to become "chief evangelist" of event and media company NewCo, a company he co-founded in 2012 while working at the giant retailer.
"NewCo has been a passion project for me and just continued to gain momentum," Mr. Monahan said. With festivals now in 15 cities annually, a new round of financing and a new publication -- NewCo Shift on Medium -- and other media properties, he said, "It kind of reached a tipping point that I felt compelled to dive in and make this thing go."
The longtime media agency executive and digital media consultant termed his three years at Walmart.com as "phenomenal," pointing to growth from 55 million to 85 million daily visitors on his watch the past three years, per ComScore -- which moved it to No. 2, past Amazon, as the second most trafficked U.S. e-commerce site, ahead of eBay.
While Walmart.com has continued to lift the retail giant's comparable-store sales, its growth has slowed in recent quarters, pulled down largely by currency effects in overseas markets.
"We're thankful for the great contributions Brian made to our business and wish him all the best with NewCo," said Walmart.com spokesman Dan Toporek in an e-mail. "We're in the process of identifying a successor."
Attendees in each NewCo city buy tickets for access to behind-the-scenes stories of startup businesses in each city during the multi-day events, which span markets including San Francisco, New York, Boston, Cincinnati and Detroit.