Flipkart Restructures Organization: Binny Appointed New Group CEO, K. Krishnamurthy CEO
Flipkart, the e-retail giant has shuffled its organizational setup with some noteworthy changes. Under the new setup, all the Flipkart group companies will be brought under Flipkart Group Org, and Binny Bansal will lead the league as the new CEO.
The primary task of the newly announced parent firm will be to focus on three key areas: Creating future value through a portfolio of new, high growth businesses; manage capital allocation across group companies and ensure each business has a strong CEO in place.
While announcing the new setup, Binny Bansal said:
“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.”
Under the new Flipkart regime, Kalyan Krishnamurthy has been appointed CEO of Flipkart, while Ananth Narayanan and Sameer Nigam will remain be the CEO of Myntra-Jabong and PhonePe respectively.
In addition to discharging his duties as Group CEO, Binny will also oversee capital allocation across all the group companies.
The restructuring seems a significant and calculated move amid the key people leaving the company and a stiff competition emerging from ace rival Amazon.