Walmart overhauls Jet.com as online business fails to deliver results

 Walmart overhauls Jet.com as online business fails to deliver results

WASHINGTON (Reuters) - Walmart Inc on Wednesday announced a sweeping overhaul at Jet.com, 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 Jet.com'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 Jet.com's strategy and management, in addition to his current role.

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

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Updated Date: Jun 13, 2019 03:06:55 IST