Indian e-commerce company Flipkart, which is eyeing US listing by 2022, has been going through a series of reshuffle and leadership changes since its acquisition by the American retail giant Walmart in a $16-billion deal last year.
In the latest development, Flipkart has elevated five executives across businesses as vice presidents (VPs), The Economic Times reported.
The new VPs include Chanakya Gupta, head of 2GUD; Saurabh Tandon from engineering; Nishit Garg, who manages a few categories; Nandita Sinha, who leads Big Billion Days (BBD) planning, and Regunath B, who heads BBD tech architecture.
Flipkart, which conducts a bi-annual performance assessment, will continue to issue promotion letters across levels along with additional Esops (Employee Stock Ownership Plans) over the next few weeks, the report said quoting a company executive.
The appointments come ahead of Flipkart’s flagship Big Billion Day (BBD), which is expected to hit $3 billion in sales. According to RedSeer Management Consulting, Flipkart accounted for 60 per cent share of the $2.5 billion sales by e-tailers during the five-day event in 2018.
The new appointments could also be seen as a precursor to company’s bigger plans of listing on the US bourse, which is likely to pave the exit for Walmart. Flipkart group CEO Kalyan Krishnamurthy has reportedly already begun initial discussions with the senior management to chalk out the IPO strategy.
In a slew of new measures, however, Flipkart plans to roll out a free video streaming service to take on its arch rival Amazon India. It is also launching an ‘audio visual guided navigation’ in Hindi to enable easy on boarding for new consumers. The app is also being redesigned to allow users to access their preferred language, curated entertainment content and content feeds.
Meanwhile, New York investment firm Tiger Global has bought additional shares in Flipkart from its erstwhile co-founder Binny Bansal, who was forced to resign from his position of Flipkart group CEO in November last year.
Bansal continues to hold over 3 per cent stake in Flipkart.