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6/13/2019, 3:48 AM (Source: TeleTrader)
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Walmart scraps Jet president position

Walmart Inc. will eliminate the position of Jet.com president, currently held by Simon Belsham, the company said in a blog post. The retail giant explained it is merging a number of Jet teams with its own and that it no longer has "the same need for a dedicated leader." Walmart acquired the e-commerce company in 2016 for around $3 billion in cash.

Walmart also stated Kieran Shanahan, who joined Walmart eCommerce in 2014, will lead the strategy and management of Jet. He will also continue to oversee the Food, Consumables and Health and Wellness Categories for Walmart eCommerce. Belsham will stay with the company until early August and help with the transition.

Breaking the News / DJ