Flipkart, which has seen the most number of executive exits than any other major company in India, is still facing the same problem of retaining executives. As per fresh reports, two more executives — VP of Engineering — have decided to quit the company.
Ashish Agrawal and Hari Vasudev, both senior vice presidents of engineering, have stepped down, said three Flipkart officials who are aware of the matter to Economic Times.
While ETTech report suggested that the executives have departed from the company, Flipkart’s official statement has denied any such developments. The company has said that “Hari and Ashish are very much part of Flipkart.”
Agrawal joined Flipkart in June from Micromax Informatics, where he was chief technology and product officer. He led the engineering team for customer shopping experience at Flipkart. Hari Vasudev has been with Flipkart for about two years, helping transform the e-commerce supply chain through technology.
Earlier, Saikiran Krishnamurthy, Surojit Chatterjee and Samardeep Subandh left the company. Saikiran headed the company’s supply chain unit Ekart; while senior vice president Surojit headed products; and Samardeep was the chief marketing officer of the company. These resignations come immediately after Flipkart named Kalyan Krishnamurthy, a former Tiger Global Management executive, as its new CEO. He replaced company’s co-founder Binny Bansal, who was appointed group CEO.
One of the officials of the company, told ET:
The recent restructuring at Flipkart, and several management changes along with uncertainty following the falling gross merchandise value are some of the reasons leading to the exit of these people.
Binny Bansal has now been assigned the task to oversee other businesses, including payments (PhonePe) and fashion (Myntra and Jabong), in addition to finding new growth drivers for the group. Kalyan Krishnamurthy is said to be running the company on a daily basis while the Bansals are out of day-today operations. As a part of the reorganisation, chief administrative officer Nitin Seth was named as the COO with additional charges of Ekart and customer experience besides HR, strategy and corporate functions.