Sriram Venkaraman, the Chief Financial Officer of Flipkart Group, is resigning after a nearly 15-year tenure with the ecommerce giant.
Venkaraman has been with Flipkart since 2015. While the company has not disclosed the reasons for his departure or a specific exit timeline, it has confirmed that he will assist during a transitional period.
In the meantime, Ravi Iyer, who previously served as senior vice president, has been promoted to the role of CFO. Iyer joined Flipkart in 2014 as a senior director of business finance.
Moreover, Nishant Verma has been re-appointed as senior vice president of corporate development and partnerships. Verma previously held this position for nearly six years before leaving in 2020, where he played a vital role in Walmart's acquisition of a majority stake in Flipkart.
This leadership change coincides with Flipkart's preparations for a public listing. Recently, the company completed its redomiciliation to India from Singapore, a significant step towards its anticipated IPO.
Flipkart has also begun discussions with several investment banks, including Goldman Sachs, Kotak Mahindra Capital, Morgan Stanley, and JP Morgan, to evaluate the public offering's feasibility.
On the financial side, Flipkart Internet, the marketplace segment, reported a 14% increase in operating revenue for FY25, reaching ₹20,493 Cr, up from ₹17,907 Cr in FY24. Additionally, its net loss decreased by 37%, falling to ₹1,494 Cr from ₹2,359 Cr the previous year.
