Home grown e-commerce major Flipkart has announced key management changes with current founder CEO Binny Bansal being elevated as the Group CEO and Kalyan Krishnamurthy taking over as CEO of Flipkart.
Krishnamurthy had joined Flipkart from Tiger Global, the leading investor in the e-commerce major in June last year. He was heading the category design organisation at Flipkart, since joining the firm.
At the same time, Flipkart has kept the role of other CEOs intact. Ananth Narayanan continues to be CEO of the Myntra-Jabong entity and Sameer Nigam as CEO of PhonePe. Krishnamurthy, Narayanan and Nigam will report to Binny Bansal. Krishnamurthy will be responsible for operationally driving Flipkart and will be responsible for its P&L.
Nitin Seth, presently the chief administrative officer, will be the new COO at Flipkart. In his new role, Nitin will be responsible for Ekart, its logitics arm, and also customer experience in addition to his existing role leading HR, strategy to execution capabilities and corporate functions. Nitin will report to Kalyan.
Categories, Marketplace, Customer shopping experience, private label and marketing divisions will continue to report to Kalyan. In addition, the engineering organisation led by Ravi Garikapati will also now report to Kalyan. The Flipkart Group is in the process of hiring a Group CFO and General Counsel and both of them will also report to Binny. “Saikiran will transition from his role as head of supply chain to lead the efforts to set up the Group CEO’s office and help Binny deliver his new charter,” said a release.
“This newly formed Group Org will focus on creating future value through a portfolio of new, high growth businesses, manage capital allocation across group companies, and ensure each business has a strong CEO in place,” the release said.
Commenting on this change, Binny Bansal, Group chief executive officer, Flipkart, “We are now ready to build the Flipkart of the future as we continue on our journey of transforming commerce in India through technology. I am confident that this new organisation structure will deliver further value for Flipkart group.”
Sachin Bansal, the other co-founder will continue to be the executive chairman, providing strategic direction for existing businesses, mentoring senior leadership, and will work closely with Binny Bansal on the new portfolio, the company said.