Myntra founder Mukesh Bansal gets more responsibilities in Flipkart rejig

BANGALORE: Flipkart has rejigged its top management, handing over more responsibility to Mukesh Bansal, the founder of fashion portal Myntra which was acquired by India's largest online retailer earlier this year. The reshuffle will also result in a higher profile for Ankit Nagori, the marketplace head who will also now oversee general merchandise and book-retailing, the business Flipkart began life with.

The moves are part of a larger organizational rehaul, according to two people with direct knowledge of the process.

In one of the first moves Mukesh Bansal, who was so far heading fashion, will also head marketing. His role has also expanded and he will take care of additional categories like computers and consumer electronics. Ankit Nagori, senior vice president in-charge of Flipkart's marketplace operations, will have additional responsibility over books and general merchandise. As reported by ET on October 17, the marketplace team is also being expanded and restructured as the number of merchants on the platform grows.

Kalyan Krishnamurthy, interim chief financial officer at Flipkart for over a year, is going back to Tiger Global. Krishnamurthy, who is director of finance for portfolio companies at Tiger, had taken on the interim CFO role after Karandeep Singh quit as head of finance at the company in January last year.

In an email sent out to employees on Monday founders Sachin Bansal and Binny Bansal wrote that Krishnamurthy will be moving back to Tiger Global and will be transitioning out of his current role, as senior vice president of retail, over the next three weeks. In September Flipkart had hired Tata Communications CFO Sanjay Baweja to be its new finance head.

The email sent out states: "Kalyan came on board full-time in Jan 2013 as our interim CFO. We were facing multiple challenges in business and finance at that time and Kalyan has was (sic) instrumental in fundamentally changing the business trajectory for us with his passion and drive."

The email goes on to detail Mukesh Bansal's and Ankit Nagori's additional responsibilities and the senior managers who will now report into them.

Michael Adnani, vice president of retail and head of strategic alliances, will report into Mukesh Bansal, who is also on the board of Flipkart. Adnani has spearheaded Flipkart's exclusive and successful partnerships with Motorola and Xiaomi. Amitesh Jha, who heads electronics and computers at Flipkart, will also report into Mukesh Bansal.

In a related development, Ravi Vora, who was handling marketing, will now take care of development of new in-house brands. "While Flipkart has digital brands like Digiflip, no major marketing initiative has been done around them," said a person with direct knowledge of the development. "The idea is to create new brands especially in the consumer durables space and focus on making large brands out of them."

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