Flipkart raises role of Myntra founder Mukesh Bansal in top-level rejig

Flipkart has rejigged its top brass with Mukesh Bansal, the founder of fashion portal Myntra-which was acquired by the retail giant in May for about Rs 2,000 crore-set to play a bigger role and chief financial officer (CFO) Kalyan Krishnamurthy hanging up his boots.

The change in the management structure assigns more responsibility to Bansal as he will be the marketing chief of Flipkart and also look after the computer and electronics goods segments.

Bansal, who founded Myntra, had joined the Flipkart Board after the acquisition deal. The management revamp will also increase influence of vice president (marketplace) Ankit Nagori. He will now be responsible for books and general merchandise categories as well.

The marketplace team is being further expanded and restructured as the number of merchants on the platform has grown larger. A Flipkart spokesperson said, "Flipkart is a new-age and agile company and organisational changes are regular for us. Realigning roles and responsibilities help us keep pace with our aggressive growth and the dynamic environment we operate in."

According to sources, Flipkart founders Sachin and Binny Bansal have sent out an email to the company's employees spelling out the details of senior managers who will report to Mukesh and Nagori.

Krishnamurthy, who joined the Bangalore-based firm from investment company Tiger Global in 2013, was also senior vice-president (retail). His last day at Flipkart is November 15 and he is expected to join Tiger Global back, a source said.

The email by the founders states that Krishnamurthy will be moving back to Tiger Global and transitioning out of his current role over the next three weeks.

In September, Flipkart had hired Tata Communications CFO Sanjay Baweja to be its new finance head. Michael Adnani, vice-president of retail and head of strategic alliances, will report to Mukesh. Adnani has also overseen Flipkart's partnerships with Motorola and Xiaomi.

Amitesh Jha, who heads electronics and computers at Flipkart, will report to Mukesh.