Flipkart may appoint new group CEO in place of Binny Bansal; Walmart considering internal and external candidates for position

Walmart acquired about 77 percent of Flipkart in May, for nearly $16 billion in what was the US retail giant’s largest-ever deal and a move to take on arch rival Amazon in a key growth market.

Reuters September 24, 2018 09:11:06 IST
Flipkart may appoint new group CEO in place of Binny Bansal; Walmart considering internal and external candidates for position

Walmart Inc’s Flipkart unit is considering naming a new chief executive officer (CEO) at the group level in place of Binny Bansal, the Mint daily reported on Monday, citing two people familiar with the matter.

Flipkart Chief Executive Officer Kalyan Krishnamurthy is one of the leading candidates for the position, the newspaper said, citing sources.

Walmart is considering both internal and external candidates for the position of group CEO, the report added.

Flipkart may name a new group CEO, partly because co-founder and current group CEO Binny Bansal is not actively involved in daily operations, the paper reported, adding that Binny Bansal will remain the chairman of the company.

Flipkart may appoint new group CEO in place of Binny Bansal Walmart considering internal and external candidates for position

A file photo of Binny Bansal. Reuters

Krishnamurthy was appointed as Flipkart’s CEO in January 2017.

Walmart acquired about 77 percent of Flipkart in May, for nearly $16 billion in what was the US retail giant’s largest-ever deal and a move to take on arch rival Amazon in a key growth market.

Flipkart was not immediately available for comment.

Last week, Walmart moved several of its leaders to senior positions at the group level at Flipkart. It appointed a new chief financial officer, general counsel, chief ethics and compliance officer and group controller, according to an Economic Times report.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Venice Film Festival 2020: Cate Blanchett, Pedro Almodovar discuss streamers' strangehold over cinema during coronavirus lockdown
Entertainment

Venice Film Festival 2020: Cate Blanchett, Pedro Almodovar discuss streamers' strangehold over cinema during coronavirus lockdown

Cate Blanchett, who is chairing the jury at Venice, said cinema needed support and warned it could be tricky "moving from a monoculture of streaming over the last six months to how we open cinemas"

Nicolas Cage-led series on Tiger King’s Joe Exotic acquired by Amazon Studios for development
Entertainment

Nicolas Cage-led series on Tiger King’s Joe Exotic acquired by Amazon Studios for development

The series on Tiger King's Joe Exotic marks the first regular television role of Nicolas Cage’s career

CPL 2020: Knight Riders, Zouks to meet in final after registering crushing wins in semi-finals
First Cricket News

CPL 2020: Knight Riders, Zouks to meet in final after registering crushing wins in semi-finals

Trinbago Knight Riders are now in a position to complete the first perfect season in CPL history, as they have won all 10 league matches plus the semi-final.