Kalyan Krishnamurthy appointed as CEO of Flipkart

Kalyan Krishnamurthy was appointed as new chief executive officer (CEO) of India’s largest online retailer Flipkart. He replaces cofounder Binny Bansal to a new position as group CEO. In his new role, Krishnamurthy will be responsible for Flipkart’s profit and losses. With this appointment, cofounders of the country’s most valued Internet company have handed over the reins to a professional. Krishnamurthy is former executive of Tiger Global, a New York-based investment firm, which is also Flipkart’s largest investor. Flipkart also appointed its CAO Nitin Seth as the Chief Operating Officer for the company.