2016 was surely a crazy year for flipkart. You ask why??
- Sachin Bansal left the CEO position to his Co-Founder, Binny Bansal
- Mukesh Bansal , Ankit Nagori , Punit Soni and CFO Sanjay Baweja left the company.
- Private label head Mausam Bhatt and Engineering Head Peeyush Ranjan also left the company.
- Kalyan Krishnamurthy left Tiger Global, which is Flipkart’s largest investor, to become head of category design of Flipkart. He is the man behind BIG BILLION DAY SALE. Soon he took the charge of commerce and advertisements. ( Reminds me of song ‘ meherbaan hua hua’ from bang bang)
Before we all could digest these changes and calm our nerves, Flipkart did it again.
Kalyan Krishnamurthy is now the CEO of flipkart. Seems like Flipkart is playing Raja , mantri , chor, sipahi chit game again and again. Whichever chit you pick, you’ll play that role. Last year Binny Bansal Played the role of CEO , this year it’s Kalyan Krishnamurthy who picked head of design chit last time. Many left because they did’nt got chit of their wish.
But wait. Binny Bansal is still the group CEO. Kalyan Krishnamurthy will have to report to Binny Bansal.
WHY KRISHNAMURTHY AS CEO??
In 2013, Flipkart faced major crisis , Amazon was a tough Competitor. Investors were not happy as sales were less than expected. Flikart was losing million dollars on monthly basis. Krishnamurthy saved it. He was appointed first as interim finance chief and then sales head. He turned out to be Flipkart’s Godfather.
In 2016 when Binny Bansal took over the position of CEO, it was expected that Flipkart will get better but it did’nt. So Flipkart turned again to Krishnamurthy. Let’s see if it get better or worse.