Flipkart makes leadership changes ahead of planned IPO

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4 years ago

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Bengaluru: Walmart-owned e-commerce market Flipkart has appointed former Unilever world govt Hemant Badri as senior vice chairman for its provide chain operations, whereas additionally reshuffling and increasing the roles of two different senior executives on the firm.

The appointment of Badri, who in his earlier position served because the vice chairman of worldwide planning, customer support and Europe operational planning at Unilever, was introduced by Flipkart Group CEO Kalyan Krishnamurthy in an e-mail to workers on Monday.

ET has reviewed a duplicate of the e-mail, which mentioned that the management modifications can be efficient March 1, 2021.

Krishnamurthy additionally introduced modifications within the position of Amitesh Jha, senior vice chairman at Flipkart, who beforehand headed provide chains of Flipkart and Myntra, Jeeves and another companies on the firm.

“Amitesh will likely be taking on a brand new position within the CDO (class design operations) and M3 (Advertising, Merchandising & Monetization) organisation. On this position, he’ll oversee the consumables, softlines, and buyer and advertising and marketing charters,” Krishnamurthy wrote.

The opposite main change in management at Flipkart is within the position of Ranjith Boyanapalli, who heads the fintech and funds group, who will take up the extra constitution of buyer expertise, market and the Central Liquidation Staff (CLT).

The e-mail additionally outlined modifications in reporting construction brought on by the highest administration modifications, including that Jha would instantly handle and mentor Badri over the following few months to allow a clean transition.

The modifications to Flipkart’s prime administration comes at a time when the corporate is getting ready for an Preliminary Public Providing (IPO) as quickly as finish of this 12 months, amid a rush of tech corporations going public globally.

Flipkart rejigged its board of administrators in December, bringing in 4 new members, together with CEO Kalyan Krishnamurthy. HDFC CEO Keki Mistry, Walmart’s world chief expertise officer Suresh Kumar and Walmart’s govt vice chairman for worldwide technique and improvement Leigh Hopkins, have been the opposite new board members of the corporate.

ET has earlier reported that Flipkart is focusing on to go public on the finish of 2021 or in 2022 at a potential valuation of $40 billion, and has begun speaking to funding banks Goldman Sachs and Morgan Stanley, amongst others.

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