Walmart-owned Flipkart has rejigged its board with the addition of Flipkart Group CEO Kalyan Krishnamurthy and HDFC Vice-Chairman and CEO Keki Mistry, among others.
In an email to employees, Krishnamurthy said the new year will see some changes to its board as four of its current directors will be stepping down after steering the company through the first two years after Walmart’s investment. These include Rajesh Magow, Rohit Bhagat, Steuart Walton and Dirk van den Berghe.
“We are sad to see all four step down, but delighted that we will not have to say goodbye to any of them; Rajesh and Dirk will continue to support us in an advisory capacity, Steuart will continue to sponsor us from the Walmart board, and Rohit will be chairing the PhonePe board,” he added.
Four new directors will be added to the board from next year. Apart from Krishnamurthy, Mistry, two new directors from Walmart — Suresh Kumar and Leigh Hopkins — will join the board, he added.
Kumar is Walmart’s global Chief Technology Officer as well as Chief Development Officer, while Hopkins is Executive Vice President of Strategy and Development for Walmart International.
“I am also honoured to have been invited to join the board from next year, and along with both the existing and new directors, look forward to supporting Flipkart’s next steps and growth journey,” he said.
Earlier this month, Flipkart had announced a “partial spin-off” of its digital payments unit, PhonePe.
“We are delighted that Rohit Bhagat has agreed to become the chair of the PhonePe board. Because of PhonePe’s significant scale and growth potential, we have requested Rohit to entirely focus on this role and step off the Flipkart board,” Krishnamurthy said.