US retail giant Wal-Mart has confirmed that Venky Harinarayan and Anand Rajaraman, co-heads of its @WalmartLabs division, are leaving the company.

@WalmartLabs, a unit of Wal-Mart global e-commerce, is the company's hub for creating social and mobile commerce platforms and products. 

"With a strong team and foundation in place with @WalmartLabs, Anand and Venky felt it was the right time to move on from their current roles," the company said in a statement sent to just-style. "They will both continue to work with the company in an advisory capacity."

The @WalmartLabs team will now report to Jeremy King, chief technology officer at Wal-Mart global e-commerce.