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Flipkart management rejig: Binny Bansal new Group CEO
10
Jan '17
Flipkart has undergone a major reshuffle and announced Kalyan Krishnamurthy as the new CEO. All the units of the company have been brought under an umbrella firm and Binny Bansal, the current CEO of the e-retail company, has been elevated to the position of Group CEO. Sachin Bansal, co-founder of Flipkart, will continue to be the executive chairman.

“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,” said Binny Bansal in a statement.

Krishnamurthy is currently the head of the category design organization department and will be responsible for driving the company operationally and for its P&L. He initially worked at Tiger Global, one of the largest investors in Flipkart.

Ananth Narayanan, CEO of Myntra-Jabong, and Sameer Nigam, CEO of PhonePe will report to Binny Bansal. These units along with Flipkart will operate under the Flipkart Group Organisation that will focus on building a new portfolio of high-value creating businesses, said the statement.

The organisation will also have a Group Strategy function and mergers and acquisitions. Binny Bansal will be responsible for allocating capital across the group companies as well as for CEO selection and compensation.

The statement also added that Nitin Seth, the current chief administrative officer, will become the COO of Flipkart. He will be responsible for Ekart and customer experience along with his existing role of leading HR, corporate functions and strategy to execution capabilities for Flipkart.

Head of supply chain Saikiran will assist Binny Bansal. The company is also in the process of hiring Group CFO and General Counsel.

Only a year ago, the e-commerce company had undergone restructuring and Binny Bansal was appointed as the CEO. He had replaced Sachin Bansal, who was offered the position of executive chairman. (KD)

Fibre2Fashion News Desk – India


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