Flipkart, India's largest online marketplace, has announced a major restructure of its senior management.
New Group structure to oversee all strategy
Flipkart has moved to bring all of its units under one group, resulting in a significant rejig to senior management:
- Binny Bansal, the existing CEO of Flipkart has been promoted to Group CEO
- Kalyan Krishnamurthy, the current head of category design organisation, will become CEO of Flipkart
- Sachin Bansal, co-founder will remain as executive chairman
The CEO's of Flipkart's other business units, Jabong-Myntra and PhonePe will remain unchanged. The new CEO, Kalyan Krishnamurthy, joined Flipkart in June from Tiger Global, one of the largest investors in Flipkart. The marketplace retailer hopes that the new structure will allow the business to be more joined up, with a new group strategy function and better allocation of capital.
Set up in place for future growth
It is fair to say that Flipkart has been going through a significant period of change in terms of its management in the last few years. With increasing levels of competition from Amazon and other ecommerce startups, Flipkart will hope the new structure will position it better for future growth. Binny Bansal, Group CEO, commented, "We are now ready to build the Flipkart of the future as we continue on our journey of transforming ecommerce in india through technology. I am confident that this new structure will deliver further value for the Flipkart Group."