Top management rejig: Flipkart appoints Kalyan Krishnamurthy as CEO
E-commerce group, Flipkart appoints Kalyan Krishnamurthy as CEO while co-founder Binny Bansal has taken position as Group CEO.
Joining in June, 2016, Krishnamurthy has been deeply involved in the overhauling of the company. Before joining Tiger Global, where he worked as managing director, Krishnamurthy was with Flipkart as the chief financial officer.
Krishnamurthy is known for playing a key role in the company’s battle against Amazon for market share and in 2016 he started heading the category management division in Flipkart. The e-commerce biggie is expected to focus on improving its unit economics and profitability with Krishnamurthy.
A new round of discount war in India’s $20 billion e-commerce industry has been fuelled with Jeff Bezos’ announcement of $3 billion investments in Amazon.
Sachin Bansal, Flipkart’s other co-founder, will continue as executive chairman of Flipkart. The Flipkart group houses fashion e-retailers like Myntra and Jabong, Phonepe – a payments app – and logistics company, Ekart.