E-commerce giant Flipkart is reportedly set to see a number of its top executives exit the company.
What Happened? Adarsh Menon, the Walmart-backed firm’s head of new businesses, including Shopsy, Cleartrip, and ReCommerce, is likely to leave the firm, multiple news outlets reported, citing sources and an internal note to staff. Menon is also reportedly looking to start his own venture.
Following the exit, Hemant Badri will take charge of the recommerce vertical, Amitesh Jha will helm Shopsy Alongside, and Ajay Veer Yadav will lead ClearTrip.
See Also: Zomato Unveils UPI Payment Service, Flipkart Next In Line
Chanakya Gupta, vice president of strategic partnerships and D2C brand accelerator (Flipkart Boost), and Ravish Kumar Sinha, senior vice president, are reportedly exiting Flipkart, Moneycontrol reported.
The reported exits come about five months after the e-commerce company said it would buy back employee stock options worth $700 million (₹5,765.4 crore) as it looks to spin off payments vertical PhonePe.
Last week, Walmart’s CEO said the firm was confident of achieving its target of exports worth over ₹82,000 crore from India by 2027.
Read Next: PhonePe Eyeing Indian IPO? Walmart CEO Hints At Possibility Amid Growth Praise
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