The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.
Palash Sinha, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur
After Mukesh Bansal’s departure from Myntra, Flipkart has also lost its mojo through the departure of the high profile Chief Product Officer Punit Soni. It comes at a time when Flipkart has seen a management overhaul following several top-level exits, including that of commerce platform head Mukesh Bansal. Since then, Flipkart’s new CEO Binny Bansal has reassigned roles of top executives across functions like engineering and supply chain.
Punit Soni was formerly Product Management Executive at Google. With an expertise in mobile technology, he was the most high-profile recruitment made by the Bengaluru-based company. He helped build products such as Ping, a chat application on the mobile app, and re-launch its mobile website, Flipkart Lite. Along with Soni, his chief of staff Niket Desai who also joined the etailer from Google has quit as well. Besides Mukesh Bansal and Soni, other executives who have quit Flipkart this year include chief business officer Ankit Nagori and Manish Maheshwari who was head of its seller marketplace and ecosystem.
With departure of these executives, Binny Bansal has assigned leadership responsibilities among several executives. Ranjan, is now head of the engineering unit across units like commerce, supply chain and advertising. Saikiran Krishnamurthy, who was hired as chief operating officer (COO). Sachin now plays a more strategic role, and Binny focuses on running the company that is in a Mexican standoff with Amazon and Snapdeal. With the recent valuation markdown by Morgan Stanley, it is no surprise that Flipkart is picky about its performers. It will definitely be interesting to watch how Flipkart shapes its business after the new management.