Walmart to Integrate Jet Employees as Unit's President Exits
- Structural changes come nearly three years after acquisition
- Website’s monthly U.S. traffic has been declining, data show
A Jet.com Inc. fulfillment center in Kansas City, Kansas.
Photographer: Daniel Acker/Bloomberg
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Walmart Inc. will fully integrate all Jet.com employees into the larger company and shrink the unit’s management team nearly three years after buying the e-commerce site.
The changes, outlined in a memo Wednesday from Jet co-founder Marc Lore, include the departure of Jet president Simon Belsham, who will seek another opportunity inside or outside the company after a transition period that ends in early August. After that, Walmart senior vice president Kieran Shanahan will take over day-to-day responsibilities of the Hoboken, New Jersey-based unit, Lore said in the memo.