In a big reshuffle at the top management level, Flipkart has decided to promote its 5 high performing executives to the top post of vice presidents, according to Economic Times, which claims to have the access to internal mail sent by the Flipkart CEO Kalyan Krishnamurthy.
Flipkart has so far not officially confirmed the news. However, if this news is indeed true then it will mark the first big overhauling of top management since the takeover by Walmart last year.
According to ET report, the names of the newly appointed VPs are Chanakya Gupta, Saurabh Tandon, Regunath B, Nishit Garg and Nandita Sinha. These top executives currently handle and look after different departments in the organization.
“These leaders have an outstanding track record of delivering impact,” Krishnamurthy has been quoted saying in the mail, according to ET.
These promotions have come barely a month before Flipkart’s flagship sale The Big Billion Days, which takes place during the festive season of Diwali. Sources claim that India’s home grown e commerce company anticipates that these newly appointed VPs can help to clock a record breaking sale of $3 Bn and give Amazon a tough fight during the festive season.
Sources further claimed that over the coming weeks, the company may issue more promotion letters across different organizational levels along with additional ESOPs.
Media reports claim that in May the Walmart owned company had issued fresh tranche of ESOPs worth $100 Mn to senior and mid-level employees in a bid to retain its key talents.
Meanwhile, Flipkart and Amazon have so far not expressed any concerns of economic slowdown taking toll on its flagship sale season. Going by both companies confident posturing, it seems that they are confident of scrapping through the slowdown and earn handsome revenue during the festive season.