According to a PTI report: Venkataraman, who is currently the Chief Financial Officer at Flipkart, is assuming the additional role as COO, according to an e-mail sent to employees by Flipkart CEO Kalyan Krishnamurthy. As part of the COO charter, he will be responsible for Ekart (logistics vertical), the marketplace and the retail vertical, he added.
“…we are making a few significant changes to the organisational structure, effective immediately. These changes are part of a planned restructuring that will enable agile decision making, while also putting us on the path to developing more independent, yet collaborative teams,” Krishnamurthy was quoted by PTI as saying.
The leadership changes announced span marketing, operations, engineering and product, he added.
Among other changes, Amar Nagaram from Flipkart will take over as head of engineering and product at Myntra, under CEO Ananth Narayanan. Also, Ramesh Bafna will take over as Head of Finance at the fashion e-tailer, succeeding Myntra CFO Dipanjan Basu who has “decided to move on”.
“With our new structure and our incredible talent, I am certain we are a step closer to being a future-ready organisation that allows us to deliver maximum, long-term impact for our customers and stakeholders,” Krishnamurthy was further quoted by PTI as saying.
The development comes within weeks of Flipkart co-founder Binny Bansal stepping down as the group chief executive officer following an independent probe into allegations of “serious personal misconduct”.
Bansal had strongly denied the charges and had said he will continue to remain a large shareholder and board member of the company.
Besides, the e-commerce major has also injected Rs 2,190 crore into its wholesale arm Flipkart India, according to regulatory filing.