5 things to know about Flipkart's new CEO Kalyan Krishnamurthy

After straining to fend off competition posed by its arch rival Amazon, the Bansal brothers have finally handed over the baton to Kalyan Krishnamurthy, the nominee of its most eminent investors Tiger Global.

On Monday, Flipkart brothers transferred the operational control of the company they built over the past decade to Krishnamurthy, as he was named the new chief executive officer (CEO).

5 things to know about Flipkart's new boss

1. Kalyan Krishnamurthy joined Flipkart last June and is currently heading the Category Design Organisation. He replaced co-founder Binny Bansal, who was made the group CEO.

2. Krishnamurthy earlier led supply chain finance at Procter & Gamble and managed finances of eBay in Asia Pacific

3. Prior to joining Flipkart, Kalyan Krishnamurthy was the managing director of Tiger Global

4. According to a report published in Business Standard, Flipkart lost its valuation from a peak of $15.2 billion after several mutual funds marked down the value of their investments in the company, while Bansals struggled to get new investors to maintain lead over Amazon. Along with Krishnamurthy, Binny Bansal mobilised resources to fight back against Amazon’s aggressive push.

5. Kalyan Krishnamurthy completed his MBA in 2000 from  Asian Institute of Management and also studied Finance at University of Illinois at Urbana-Champaign - College of Business

Flipkart is India's leading e-commerce company. This is the second time in a year that it has made changes in the top-most post.  

Binny Bansal will now lead the newly formed Flipkart Group and focus on strategy, mergers and acquisitions, the company said in a statement late on Monday.

The company said the new structure will help the group build a portfolio of value-creating businesses and that Binny Bansal will oversee capital allocation across group companies.

Flipkart said Sachin Bansal will remain executive chairman and provide strategic direction. He will work closely with Binny Bansal on the new business portfolio.