Look forward to seeing our leaders steer us to new heights: Flipkart CEO | Company News – Business Standard
Flipkart Group CEO Kalyan Krishnamurthy
Flipkart Group Chief Executive Officer Kalyan Krishnamurthy on Tuesday clarified that the news report regarding the exit of a few leaders based on performance and the company’s push towards profitability is ‘speculative’.
Flipkart-owned travel platform Cleartrip’s CEO Ayyappan R, Amitesh Jha who leads marketplace and categories, fintech and payments head Dheeraj A, and Bharath Ram, who leads growth and retention at the e-commerce firm, are among the senior vice presidents who are moving out of the firm.
“I‘m writing to you to clarify a speculative news report that has appeared today regarding the exits of a few of our leaders. Since its inception, Flipkart has always created stellar leaders who have not only scaled our business to new heights but have also moved on to create successful businesses in the ecosystem at large,” said Krishnamurthy, in an internal letter addressed to the employees and a copy of which ‘Business Standard‘ has seen. “Our approach to enabling wealth creation and career planning for all employees has given several individuals the opportunity to pursue the next phase of their careers, which has led to some exits among senior management.”
Krishnamurthy said that senior management including Amitesh Jha, Ayyappan R, Bharath Ram and Dheeraj A are part of this talented set of visionary leaders who have chosen to embark on journeys beyond Flipkart. “Each of them played an important role in scaling our business to new heights and has had a successful tenure in the Flipkart ecosystem,” said Krishnamurthy.
He said that Flipkart’s growth in the past decade would have been impossible without their contribution. “We wish them the best in their new ventures and pursuits.”
Flipkart will continue looking for ways to partner with these leaders in the future through the businesses they create. “I look forward to seeing our leaders steer our ship towards continued growth, with each of you playing an important role in this journey.”
Flipkart is in talks with investors to raise a total funding of about $1 billion to help it in its strategic objectives, including becoming IPO-ready, according to the sources. It recently raised nearly $600 million in fresh funds from parent company Walmart and another investor.
It is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its IPO, now planned in 2025-2026, instead of this year, according to people familiar with the matter.
Flipkart-owned travel platform Cleartrip’s CEO Ayyappan R, Amitesh Jha who leads marketplace and categories, fintech and payments head Dheeraj A, and Bharath Ram, who leads growth and retention at the e-commerce firm, are among the senior vice presidents who are moving out of the firm.
“I‘m writing to you to clarify a speculative news report that has appeared today regarding the exits of a few of our leaders. Since its inception, Flipkart has always created stellar leaders who have not only scaled our business to new heights but have also moved on to create successful businesses in the ecosystem at large,” said Krishnamurthy, in an internal letter addressed to the employees and a copy of which ‘Business Standard‘ has seen. “Our approach to enabling wealth creation and career planning for all employees has given several individuals the opportunity to pursue the next phase of their careers, which has led to some exits among senior management.”
Krishnamurthy said that senior management including Amitesh Jha, Ayyappan R, Bharath Ram and Dheeraj A are part of this talented set of visionary leaders who have chosen to embark on journeys beyond Flipkart. “Each of them played an important role in scaling our business to new heights and has had a successful tenure in the Flipkart ecosystem,” said Krishnamurthy.
He said that Flipkart’s growth in the past decade would have been impossible without their contribution. “We wish them the best in their new ventures and pursuits.”
Flipkart will continue looking for ways to partner with these leaders in the future through the businesses they create. “I look forward to seeing our leaders steer our ship towards continued growth, with each of you playing an important role in this journey.”
Flipkart is in talks with investors to raise a total funding of about $1 billion to help it in its strategic objectives, including becoming IPO-ready, according to the sources. It recently raised nearly $600 million in fresh funds from parent company Walmart and another investor.
It is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its IPO, now planned in 2025-2026, instead of this year, according to people familiar with the matter.
First Published: Feb 20 2024 | 11:55 PM IST