Flipkart group has declared that it will hoist Kalyan Krishnamurthy, currently the chief of Category Design Organization, to the locus of company CEO. Chief executive officer of Flipkart, Binny Bansal, who took over the position almost exactly a year ago, will now be the CEO of the fresh Flipkart Group organization.
Chief Administrative Officer Nitin Seth has been encouraged to the position of Flipkart COO in this newest management rejig. Co-founder Sachin Bansal continues to grasp the title of Flipkart’s Executive Chairman, while Ananth Narayanan and Sameer Nigam will endure to be the CEO of Myntra, Jabong correspondingly.
“2016 has been actually an extraordinary year for Flipkart,” Binny Bansal stated. “We are now ready to figure the Flipkart of the future as we endure on our journey of transforming commerce in India through technology. I am confident that this new body structure will bring further value for Flipkart group.”
The fresh Flipkart CEO, Krishnamurthy is supposed to be close to Lee Fixel, the global head of private investments at Tiger Global Management, which keeps 30-33 percent of Flipkart. He had played the roles of interim CFO and sales head in his first stint at Flipkart, but apparently left after clashes with Sachin Bansal in 2014. As Flipkart CEO, Krishnamurthy will be accountable for the whole of Flipkart’s retail business.
Krishnamurthy is also believed to be the driving force behind many of Flipkart’s lucrative special partnerships, and responsible for bringing Motorola and Xiaomi back to the e-commerce site later their short stints with Amazon. He is similarly credited for the success of the Big Billion Day Sale in October 16.Flipkart’s report added that one of the emphasis areas of the Flipkart Group that will be headed by Binny Bansal “will be to form a portfolio of new, high value-creating businesses that are disruptive and will convert commerce in India.”
In his novel role, the Flipkart statement said, Binny Bansal will oversee “capital portion across all the group companies, CEO selection and CEO reward as well as to ensure each business is led by a strong CEO.”