The elevations 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 development.
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.
Ravish Sinha will continue to lead Search at Flipkart, according to the email.
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, according to Krishnamurthy’s email.
“We have been able to create a lot of leaders internally and that practice continues,” said a senior executive at Flipkart who did not want to be named. “It’s Kalyan’s style of grooming people he has worked with and taking along his most trusted lieutenants.”
The announcement comes at a time when Flipkart has decided to defer pay hikes for it’s top management this year, owing to lower growth on account of the impact of the Covid-19 pandemic on the business. Promotions are, however, still being honoured, according to the executive quoted earlier.
For Flipkart and Myntra employees in the mid and lower levels, salary increases are at similar levels to last year, but growth in hiring will not be as robust as in previous years.
Positions that were opened prior to 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 cut salaries, as the Covid-19 virus outbreak impacts businesses.