Former Tiger Global executive Kalyan Krishnamurthy has been named as new CEO of Flipkart in a management restructuring at India’s largest online retailer, with current CEO Binny Bansal moving up to Group CEO.
Krishnamurthy had joined Flipkart in June 2016 as head of commerce unit from Tiger Global. Tiger Global is the largest shareholder and investor in the company. Krishnamurthy will now be responsible for operationally driving Flipkart and will be responsible for Flipkart profit and loss (P&L).
The move comes one year after a reorganisation where Binny Bansal took over as CEO from co-founder Sachin Bansal, who was named executive chairman for the group. Sachin’s role remains the same after the new reorganisation.
“This newly formed group organisation 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,” said Flipkart in a statement.
With the newly formed position for Binny Bansal, Krishnamurthy, along with fashion unit Myntra-Jabong CEO Ananth Narayanan and payments unit PhonePe CEO Sameer Nigam, will report to him.
Nitin Seth, current chief administrative officer at Flipkart, will be the COO for Flipkart. Seth will continue to be responsible for HR, strategy and corporate functions for Flipkart. Current Ekart CEO Saikiran Krishnamurthy will move to a new role, where he will work with Binny.
Seth along with the engineering organization head Ravi Garikapati will now report to Krishnamurthy.