Bengaluru: Flipkart has elevated former Tiger Global Management executive Kalyan Krishnamurthy as the new chief executive replacing co-founder Binny Bansal, who has been named as the group chief executive of India’s largest online marketplace. Binny Bansal has been redesignated as the group chief executive while co-founder Sachin Bansal continues to be executive chairman. The latest shake-up does not come as a complete surprise and was being speculated internally for at least a month, according to several company executives that Mint spoke to. ALSO READ | Flipkart’s godfather in New YorkLast year, in an almost identical move, Flipkart’s board had cast aside co-founder Sachin Bansal from the role of CEO and put Binny Bansal in the hot seat. I am confident that this new organisation structure will deliver further value for Flipkart group,” said Binny Bansal in a statement on Monday.

Source: Mint January 09, 2017 14:40 UTC