27 August 2016, India :
Flipkart has reshuffled its senior management roles once again in a move to help its CEO Binny Bansal focus on broader group-level issues. The rejig, which involves four of its top executives, gives a wider role to Kalyan Krishnamurthy, a Tiger Global executive, according to an internal note circulated to company employees which was reviewed by TOI.
The rejig at Flipkart, the third major one this year, comes at a time when the Bengaluru-based firm is locked in a battle with global rival Amazon for market leadership.
New York-based investment fund Tiger Global is Flipkart’s largest investor, having pumped $1 billion into the Bengaluru-based online retailer. The latest developments come ahead of the festive season, which is crucial for all e-commerce players. This year the nine-year-old company is fighting a fierce battle with Amazon, which is threatening to topple the homegrown e-tailer from its pole position. A successful festive season is all important for Flipkart to retain its leadership over its American rival.
“To simplify the commerce business, a number of functions will be consolidated under Kalyan. Category design organisation (CDO), marketplace, marketing, and customer shopping experience organisations will now be part of the commerce business structure led by Kalyan. Consequently, Surojit Chatterjee, Samardeep Subandh, Anil Goteti, and Mausam Bhatt will report to Kalyan. The CDO structure remains unchanged. In addition, with the successful incubation of the ads business, it will be consolidated under the commerce business,” the note said. Both Kalyan and Saikiran will report to Binny.
“In the last few months, Flipkart has made considerable progress in creating the foundation of an e-commerce conglomerate… Flipkart is now in a position to combine its strengths,” the note said.
The new structure will help the company better manage its functions and operations of the marketplace as well those of Myntra (and Jabong), Ekart (logistics) and PhonePe (wallet). Myntra and PhonePe will continue to be headed by Ananth Narayanan and Sameer Nigam, respectively. Source- ToI