Flipkart has appointed Kalyan Krishnamurthy as its new Chief Executive Officer (CEO). He will replace co-founder Binny Bansal who became CEO last year in January. Binny Bansal will now be the Group CEO while co-founder Sachin Bansal continues to be executive chairman.
Krishnamurthy was earlier the chief of Category Design Organisation at Flipkart. He is also the former Tiger Global executive who had joined Flipkart in June 2016 as head of commerce unit. Krishnamurthy, along with fashion unit Myntra-Jabong CEO Ananth Narayanan and payments unit PhonePe CEO Sameer Nigam, will report to Binny Bansal. Current Chief Administrative officer, Nitin Seth will now be the new COO.
Binny Bansal said in a statement,
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 said in a statement,
This newly formed group organization 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. To evaluate these opportunities and construct this portfolio of new businesses, Flipkart Group Organisation will have a Group Strategy function as well as mergers and acquisition. Kalyan will be responsible for operationally driving Flipkart and will be responsible for Flipkart P&L (profit and loss).