Flipkart gets new CEO as Kalyan Krishnamurthy takes over

Kalyan Krishmamurthy is the new chief executive officer of Flipkart. He will be responsible for Flipkart’s profit and losses. Krishnamurthy joined Flipkart last June as head of the core e-commerce business.

Flipkart cofounder Binny Bansal is group CEO. He will focus on building a portfolio of new high growth businesses, capital allocation across group companies, IPO-readiness, and ensure each business of the group portfolio has a strong CEO in place. Bansal will have oversight of Flipkart, fashion portals Myntra-Jabong and the payments business PhonePe.

Sachin Bansal, who was named executive chairman for the group in January 2016, will retain his position and work closely with Binny Bansal to drive businesses in areas such as fintech, private brands, business-to-business services, and logistics.

Tiger Global is Flipkart’s largest investor and owns a 35 per cent stake. Flipkart may possibly be heading for a public listing in two to four years. The last festive season was a great success for Flipkart and Krishmamurthy was seen as a key driving force behind this. A former eBay executive, Krishnamurthy joined Tiger Global Management in 2011 where he served as a managing director till December 2016. He had earlier worked at Flipkart for two years between 2013 and 2014, heading finance and category management.