Walmart-owned e-commerce marketplace Flipkart has promoted five senior executives to the level of Senior Vice President.
The promotions of Manish Kumar, Anand Lakshminarayanan, Ranjith Boyanapalli, Ravish Kumar Sinha and Ravi Iyer were announced in an email sent by Flipkart Group CEO Kalyan Krishnamurthy on Sunday.
This brings the total number of executives at the level of Senior Vice President to 14 in the homegrown e-tailer.
A Flipkart spokesperson confirmed the move.
According to the email, Manish Kumar will continue to lead Flipkart’s grocery division, while Anand Lakshminarayanan will remain at Flipkart Data Group and Ranjith Boyanapalli will continue to head the fintech and payments division and Ravish Sinha will continue to lead Search at Flipkart. Ravi Iyer, who previously held the title of Chief of Staff and had recently taken charge of Corporate Finance including M&A and Investor relations, will play an instrumental role in Flipkart’s IPO journey.
“We have been able to create a lot of leaders internally and that practice continues,” “It’s Kalyan’s style of grooming people he has worked with and taking along his most trusted lieutenants,” said a senior executive at Flipkart who did not want to be named.
The announcement has come at a time when Flipkart has decided to put back pay hikes for its top management this year, owing to lower growth on account of the impact of the coronavirus pandemic on the business. Promotions are, however, still being honoured, according to the executive quoted earlier.
For Flipkart and Myntra employees in the middle and lower levels, salary increases are at similar levels to last year, but growth in hiring is said not to be as vigorous as in previous years.
Positions that were opened before the crisis will still remain open and offers made to freshers have been honoured.
Many consumer technology companies, including Swiggy, Zomato, Ola and Uber have laid off hundreds of employees and pay cuts, as the COVID-19 virus outbreak continues to impacts businesses.