Flipkart to replace CEO for a day
Flipkart is planning to replace its CEO for one day, to give an employee the opportunity to see how it feels to run the company. It is a part of the company's 10th anniversary celebration. Sources said the move sought to familiarize employees with challenges at different levels of management. Several other employee engagement initiatives are also to be launched.
Flipkart is one of India's largest e-commerce platforms, that serves as a portal for multiple vendors to sell their products online. The shopping portal, with over 35,000 employees, currently generates revenues of around $1.5 billion. Although based in India with its headquarters at Bengaluru, Flipkart is also registered in Singapore. It recently acquired Myntra and Jabong, enabling it to boost its user base.
Who's at the helm?
After the latest management reshuffle Kalyan Krishnamurthy, an erstwhile MD at Tiger Global Management is the one who is now calling the shots after being appointed as the CEO of Flipkart. Co-founder Binny Bansal is the group CEO. Founder Sachin Bansal is the executive chairman of the Flipkart group, a position which he assumed in January 2016 after receding from the top spot.
How will this work?
Employees were asked to submit applications detailing why they think they should be the CEO. The applications would be vetted by a panel who would pass it on to CEO Kalyan Krishnamurthy who would then pick the winner. A company e-mail said the winner would get "to attend all the meetings Kalyan would and take decisions on his behalf."