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Flipkart Exits Continue in 2017, Three More Top Level Execs Quit

by Chinmay Bidkar
January 11, 2017
in News
Reading Time: 2 mins read
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Flipkart Exits Continue in 2017, Three More Top Level Execs Quit
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11 January 2017, India:

India’s e-commerce front runner Flipkart is continuously in the news but for all the wrong reasons. The top level board members are either quitting or shuffling. Just a day back Binny Bansal was replaced by Kalyan Krishnamurthy to take over as CEO.

As per the ET report, Saikiran Krishnamurthy, who headed the e-tailer supply chain unit Ekart; senior vice president Surojit Chatterjee, who headed product and chief marketing officer Samardeep Subandh are all set to leave the company.

Saikiran Krishnamurthy’s resignation was expected given that he was shunted to an undefined role within Binny Bansal’s team, the two people cited above said to Livemint.

Also read- ZOHO CORP INVESTS $10MN IN FIVE STARTUPS

EKART is India’s largest logistics and supply chain company delivering 10 million shipments a month to 3800+ pin codes. Established in 2009, EKART as Flipkart’s in-house supply chain arm has powered the growth of Flipkart with innovations such as Cash on Delivery, In-a-day guarantee, Same-day guarantee to some cities.

Flipkart has been facing numerous mark downs in valuations with Morgan Stanley for consecutive nine times, Vanguard Variable Insurance Funds slashing the value of shares by 33%, SoftBank too has marked down and the company has doubled its losses last year. (Image- Zee News)

Also read- APPLE CEO TIM COOK FACES 15% SALARY CUT FOR MISSING OUT ON SALES GOALS
Tags: Binny BansalecommerceflipkartKalyan KrishnamurthyTop level exits
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Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- [email protected]

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