Walmart, which owns 77% of Flipkart is seeing a possibility of separating the work of chairman and the group CEO.
India’s Flipkart is planning to assign a new chief executive officer (CEO) to replace Binny Bansal, co-founder and currently the CEO of Flipkart. Flipkart may agree to appoint a new group CEO somewhat because Bansal is not involved in daily operations. Binny will still remain as chairman of the company.
Walmart is considering internal and external aspirant for the said position. One of those is Kalyan Krishnamurthy, who was appointed as Chief Executive Officer of Flipkart Online Services Pvt. Ltd. in January of 2017. Prior to joining Flipkart, he served as the Managing Director and Director of Finance and Portfolio Companies at Tiger Global Management LLC.
Since Walmart already bought ¾ of Flipkart for $16 billion, they got the privilege to decide who to appoint in the position of CEO or chief financial officer. Several leaders of Walmart moved to senior positions at the group level at Flipkart earlier this month. Along with the event of Walmart’s moving its leaders, Walmart also appointed a new chief financial officer, general counsel, chief ethics and compliance officer and group controller.
According to Flipkart’s spokeswoman, they do not comment on any speculations and rumors about the matter.