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Jet.com names online grocery veteran as president

Simon Belsham, an online grocery veteran, is the new president of Walmart Inc.'s online retailer Jet.com.

A Jet.com spokeswoman confirmed a Reuters report on the appointment and provided a copy of a staff email that Jet.com founder Marc Lore sent March 26.

In the email, Lore emphasized Belsham's experience in online grocery, which he said is a central part of Jet.com's strategy. Belsham spent seven years at Tesco PLC, a U.K. grocer and general merchandise retailer, building the company's online efforts. Most recently, Belsham was CEO of startup Notonthehighstreet.com, a gifting e-commerce platform.

"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 wrote. "His omnichannel experience and track record of innovation from his time in consumables and durables will help spearhead Jet's focus to be the leading online retailer for the urban consumers."

Lore sold Jet.com to Walmart in August 2016 for $3.3 billion and has since led the world's largest retailer's e-commerce efforts as its executive vice president and president and CEO of Walmart e-commerce U.S.

Walmart announced plans March 14 to expand its online grocery delivery service to more than 100 U.S. cities, reaching 40% of U.S. households.

Belsham follows Liza Landsman as president of Jet.com. Landsman is joining venture capital firm New Enterprise Associates, a former investor in Jet.com, according to a February press release from the venture capital firm. Landsman worked at Jet.com for just over a year, joining the Hoboken, N.J.-based company in January 2017.