Flipkart recasts top deck, Kalyan becomes CEO
Binny Bansal group CEO, Sachin continues as executive chairman
E-commerce major Flipkart has elevated former Tiger Glogal Management executive Kalyan Krishnamoorthy (in pic) as its chief executive officer (CEO), replacing co-founder Binny Bansal. Bansal will be the new Group CEO while co-founder Sachin Bansal will continue as the executive chairman.
This is the second major shake-up within the company, which did not spare the founders. In January last year, Binny Bansal was made the chief CEO, replacing Sachin Bansal.
“Kalyan Krishnamoorthy, who has been heading the category design organisation, will become the CEO of Flipkart. Kalyan will be responsible for operationally driving Flipkart and will be responsible for Flipkart P&L,” the company said in a statement. Krishnamoorthy had joined Flipkart as an interim CFO in early 2013 and he was also instrumental in introducing the Big Billion Day sales.
As the executive of Flipkart’s largest investor, he returned when the company was goi­ng through a series of markdowns in valuations. It also was under press­ure due to competition from Amazon and its own mounting losses. Flipkart has been seeing several organisational shake-ups for the past couple of years and many key officials leaving the firm. “Kalyan has been runni­ng the show for some time now and the firm has been trying to bring in professionals to elevate it from a startup to a corporate,” an industry insider told Financial Chronicle.
As part of the restructuring, Nitin Seth, presently the chief administrative officer, will be COO for Flipkart. In his new role, Seth will be responsible for Ekart and customer experience in addition to his existing role leading HR, strategy to execution capabilities and corporate functions for Flipkart. Seth will report to Kalyan. Categ­o­r­ies, marketplace, custo­m­er shopping experience, private label and marketing will continue to report to Kalyan. In addition, the engineering arm led by Ravi Garikapati will now report to Kalyan.
Ananth Narayanan will continue to be CEO of Mynt­r­a-Jabong and Sameer Ni­g­am CEO of PhonePe. Kal­y­an, Ananth and Sameer will report to Binny, the company said in the release.
Flipkart is in the process of hiring a group CFO and general counsel and both of them will 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, it added.
Sachin will provide str­ategic direction for existing businesses, mentoring senior leadership, and will work closely with Binny on the new business portfolio.
Sangeetha G.