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.
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.
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.
also read
Amazon’s battle with newly-formed union continues despite workers’ historic win
Regardless of an increase in organising efforts, the share of workers who belong to unions has continued to shrink over the years, dropping to 10.1 percent last year from 10.3 percent in 2021.
One third of Amazon 'degraded' by human activity, drought
In a study published in the journal Science, the researchers said the damage done to the forest which spans nine countries is significantly greater than previously known
Amazon workers walk-out in UK: Staff claims their toilet breaks were timed
Talking to BBC, some of the employees have shared their ordeal of working in 'severe' conditions at the company. Not just that but the revelation has literally shocked all that claim that even their toilet breaks are timed