Walmart overhauls as online business fails to deliver results

June 12, 2019

WASHINGTON (Reuters) – Walmart Inc on Wednesday announced a sweeping overhaul at, an e-commerce retailer it acquired in 2016 for $3.3 billion, and said it no longer needs a dedicated leader to run the online business.

Walmart said it will integrate’s retail, technology, marketing, analytics and product teams with its own e-commerce business and current President of Jet, Simon Belsham, will oversee the transition through early August.

Going forward, Kieran Shanahan, who oversees Walmart’s food, consumables, health and wellness categories, will be responsible for’s strategy and management, in addition to his current role.

(Reporting by Nandita Bose in Washington; Editing by Lisa Shumaker)

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