Flipkart implements large-scale board restructuring

NEW DELHI:  India’s largest e-commerce player Flipkart has made big changes in its board structure amidst reports that the Walmart-owned company is considering an IPO as early as next year. Flipkart will be inducting Group CEO Kalyan Krishnamurthy and three new members in its board—HDFC Vice Chairman and CEO Keki Mistry, and two new directors from Walmart: Suresh Kumar and Leigh Hopkins. 

“I am also honoured to have been invited to join the board from next year, and along with both the existing and new directors, look forward to supporting Flipkart’s next steps and growth journey,” Krishnamurthy said. Kumar is Walmart’s global Chief Technology Officer as well as Chief Development Officer, while Hopkins is Executive Vice President of Strategy and Development for Walmart International.

Krishnamurthy, in an email to employees, said that the new year will see some changes to its board as four of its current directors will be stepping down after steering the company through the first two years after Walmart’s investment.

These include Rajesh Magow, Rohit Bhagat, Steuart Walton and Dirk van den Berghe. Krishnamurthy also said that Bhagat has agreed to become the chair of the PhonePe board. “Because of PhonePe’s significant scale and growth potential, we have requested Rohit to entirely focus on this role,” he said. While Flipkart hasn’t officially announced IPO plans for IPO, there have been reports that Walmart may list it in the United States.