India’s top e-commerce firm Flipkart on Monday appointed Kalyan Krishnamurthy as its new CEO, replacing co-founders Binny Bansal. Bansal has been given the position of Group CEO.
Krishnamurthy associated with Flipkart in June 2016. He was intensely involved in the company’s revamping process. This was Krishnamurthy’s second shift with the e-commerce group where he earlier worked as the chief financial officer before linking with Tiger Global as the managing director.
Flipkart’s other co-founder and former CEO, Sachin Bansal will continue with his present role as the executive chairman.
Krishnamurthy began heading the category management division in Flipkart in 2016. He is acknowledged to play an important role in the company’s fight for market share against Amazon. His joining happened with Jeff Bezos’s statement of Amazon’s mega round of $3 billion investments. This has fuelled a new round of discount war in India’s $20 billion e-commerce business.
Krishnamurthy is known as a numbers guy. Thus, Flipkart might emphasize on refining its unit finances and profitability. A bunch of companies including fashion e-trailers Myntra and Jabong, apart from payments app Phonepe, and logistics company Ekart comes under Flipkart.
