Walmart unit Jet.com names Tesco veteran Simon Belsham as president

Walmart unit Jet.com names Tesco veteran Simon Belsham as president

Walmart‘s Jet.com has named Tesco veteran Simon Belsham as president of the e-commerce company, effective immediately, the company said Monday.

Belsham will be responsible for expanding the company’s online grocery business, Walmart e-commerce CEO Marc Lore said in a memo to employees.

Belsham spent seven years at Tesco, one of Britain’s top grocery retailers, and worked at U.K.-based Ocado, helping the online supermarket company expand its nonfood business.

He succeeds Liza Landsman, who announced plans recently to leave Jet.com and join a venture capital firm.

“There are so many ways technology can change retail and be a force for good in our lives,” Belsham said in a statement about his new position. “In my view, there is no business better positioned to take advantage of the opportunity ahead than the combination of Walmart and Jet.”

Belsham joins Jet.com at a time when Walmart is ramping up its online grocery business in the face of competition from Amazon-owned Whole Foods, Kroger and Target.

In its most recent quarter, Walmart’s e-commerce growth cooled significantly, disappointing investors and analysts about Jet.com’s performance. Walmart acquired the company in 2016.

Lore has said Jet.com aims to target consumers in urban markets who might not frequent Walmart stores. Late last year it launched its own private-label brand, Uniquely J, in a bid to win more of those shoppers’ dollars and boost profit margins.

“With Jet Grocery being an integral part of the strategy, Simon brings incredible experience in scaling grocery delivery and his unique background in converging technology and retail to create amazing experiences for customers,” Lore said in the memo.

Current Jet.com execs Andrew Gasper, David Echegoyen and Jack Hanlon will report to Belsham, Lore said.

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