Flipkart has rejigged its board with the addition of Flipkart Group CEO Kalyan Krishnamurthy, HDFC vice-chairman and CEO Keki Mistry and two others. The Walmart-owned firm is set to go public over the next couple of years.
In an email to employees, Krishnamurthy said the new year will see some changes to its board as four of its current directors will step down after steering the company through the first two years following Walmart’s investment. These include Rajesh Magow, Rohit Bhagat, Steuart Walton and Dirk van den Berghe.
“We are sad to see all four step down, but delighted that we will not have to say goodbye to any of them; Rajesh and Dirk will continue to support us in an advisory capacity, Steuart will continue to sponsor us from the Walmart board, and Rohit will be chairing the PhonePe board,” he added. He added that four new directors will be added to the board from next year.
“I am happy to share with you all that at the meeting earlier this month, the board was highly appreciative of all our efforts this year, expressed pride in the progress we have made and looked forward to seeing the next chapter of our development,” Krishnamurthy said.
Apart from him and Mistry, two new directors from Walmart — Suresh Kumar and Leigh Hopkins - will join the board.
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.
In 2018, Walmart Inc invested $ 16 billion for acquiring 77 per cent stake in Flipkart, and earlier this year, it led a $ 1.2 billion funding round in the e-tailer.
