Binny Bansal elevated as Group Chief Executive Officer in the major e-commerce trade name, Flipkart.
Myntra-Jabong, Flipkart and PhonePe will now operate under the group structure and their CEOs will report to Binny.
Flipkart Group Organization will be focusing on building a portfolio of new, high value-creating businesses to transform commerce in India.
On this account, Binny said, “To evaluate these opportunities and construct this portfolio of new businesses, Flipkart Group Organization will have a Group Strategy function as well as mergers and acquisition,”
The key responsibility of Binny as Group CEO will be to keep an eye on the capital allocation across all the group companies, CEO selection and CEO compensation.
Kalyan Krishnamurthy who was currently heading the Category Design Organization, will now become the CEO of Flipkart. Sachin Bansal, the Co-Founder of Flipkart will continue as Executive Chairman.
Binny Bansal, Flipkart Group CEO 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 organization structure will deliver further value for Flipkart group,”
He further added by saying, Kalyan will be responsible for operationally driving Flipkart and will be responsible for Flipkart P&L.”
Earlier, Binny Bansal as chief operating officer was appointed as the Flipkart CEO, replacing Sachin Bansal, who was then appointed as Executive Chairman.