Kalyan Krishnamurthy replaces Binny Bansal as Flipkart CEO
In a eye-catching move, former Tiger Global executive Kalyan Krishnamurthy has been appointed new Chief Executive Officer of Flipkart. Bansal has been named the Group Chief Executive. Nitin Seth, presently the Chief Administrative officer, will become the Chief Operating Officer.
“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,” Flipkart Group CEO Binny said in a statement.
The top-level shuffle comes within a year of the previous high level rejig at Flipkart when Binny Bansal, then chief operating officer, was appointed Flipkart CEO, replacing Sachin Bansal, who was appointed executive chairman.
“Kalyan Krishnamurthy, currently 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 statement said.
“I was playing two roles of Flipkart CEO and the group CEO as we did not really have a formal group structure. With PhonePe becoming very critical, Sachin and I decided this is the best time to make these changes where we can focus on existing and new businesses,” Bansal said.
Krishnamurthy joined Flipkart in June from Tiger Global which is one of the largest investors in the e-commerce firm. Ananth Narayanan will continue as CEO of Myntra-Jabong and Sameer Nigam as CEO of PhonePe.
Flipkart, Jabong-Myntra and PhonePe will operate under this group structure and their CEOs will report to Binny.