Leadership Change at Flipkart as CFO Sriram Venkataraman Resigns
In a significant reshuffle, Flipkart has announced the impending departure of its group chief financial officer, Sriram Venkataraman. This information was divulged in a formal statement from the Walmart-owned e-commerce giant on Friday.
The company is strategically positioning itself for an initial public offering (IPO) projected for next year.
Venkataraman, a veteran with a decade of service, having joined the organization in 2015, will conclude his tenure over the upcoming quarters. To date, Flipkart has yet to identify a successor to this pivotal role.
In an internal email to employees, Kalyan Krishnamurthy, the chief executive officer (CEO) of Flipkart, communicated that, “Sriram will remain with us for a period of time to facilitate a smooth transition and ensure operational continuity. During this interim phase, Sriram’s team will report to Ravi Iyer, CFO of Flipkart.”
Krishnamurthy further emphasized the strength of the finance organization, stating, “Our finance team remains robust, bolstered by seasoned CFOs and adept financial leaders across our divisions, all underpinned by stringent governance frameworks. Our strategy, priorities, and operational execution remain resolutely on course.” The email was reviewed by ET.
Having joined Flipkart in 2015 as the finance head of the company’s commerce sector, Venkataraman brought nearly two decades of experience from FMCG leader Unilever.
On the same day, Flipkart unveiled the appointment of Nishant Verman as senior vice president to bolster preparations for its IPO. Verman will report directly to Iyer and will oversee corporate development, strategic partnerships, and IPO readiness efforts. ET initially reported on March 9 regarding Verman’s return to the company.
Verman previously featured prominently in Flipkart’s corporate development contingent and was instrumental in the company’s monumental $16 billion acquisition by Walmart in 2018, a landmark transaction within India’s startup landscape.
His previous contributions also include pivotal roles in securing a $4 billion influx from SoftBank, Tencent, eBay, and Microsoft, alongside spearheading the acquisitions of PhonePe, Jabong, and eBay India.
This appointment marks one of the few senior vice president-level additions to Flipkart in the past year, set against a backdrop of senior leadership reductions under Krishnamurthy’s direction.
According to reports, the number of SVPs within the e-commerce marketplace has dwindled to fewer than a dozen from approximately 18 two years prior.
Earlier this month, Flipkart completed a reverse flip, transitioning its base of operations from Singapore back to Bengaluru—a strategic maneuver in anticipation of its domestic listing.
Furthermore, Flipkart has fortified its finance team with high-profile hires, including Gunjan Bhartia and Vipin Kapooria.
Bhartia assumes the role of senior vice president of business finance, whereas Kapooria returns to Flipkart after a brief tenure as CFO at Eternal-owned Blinkit, now appointed as vice president.
These shifts coincide with recent mass layoffs initiated by the company following performance evaluations.
In a bid to rectify financial outcomes, Flipkart has been on a relentless path to mitigate losses. In fiscal year 2025, Flipkart Internet, the marketplace division, posted revenues of Rs 20,493 crore, reflecting a 14% year-on-year increase, while net losses saw a reduction of 37% to Rs 1,494 crore.
However, Flipkart Internet’s growth trajectory in FY25, although positive, marked a deceleration from the preceding year’s 21% increase—an indicator of the company’s ongoing challenges.
In the calendar year 2025, Flipkart achieved $30 billion in gross merchandise value (GMV), a remarkable doubling from the $15 billion recorded in 2020.
Source link: M.economictimes.com.
