Flipkart Names New CEO; Binny Bansal Elevated to Group CEO
Flipkart has announced that it will elevate Kalyan Krishnamurthy, presently the chief of Category Design Organisation, to the position of company CEO. Chief executive officer of Flipkart, Binny Bansal, who took over the position almost exactly a year ago, will now be the CEO of the new Flipkart Group organisation.
Chief Administrative Officer Nitin Seth has been promoted to the position of Flipkart COO in this latest management rejig. Co-founder Sachin Bansal continues to hold the title of Flipkart’s Executive Chairman, while Ananth Narayanan and Sameer Nigam will continue to be the CEO of Myntra-Jabong and PhonePe respectively.
“2016 has been truly an extraordinary year for Flipkart,” Binny Bansal said in an emailed 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’s statement added that one of the focus areas of the Flipkart Group Organisation that will be headed by Binny Bansal “will be to build a portfolio of new, high value-creating businesses that are disruptive and will transform commerce in India.”
In his new role, the Flipkart statement said, Binny Bansal will oversee “capital allocation across all the group companies, CEO selection and CEO compensation as well as to ensure each business is led by a strong CEO.”
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