Retail giant Walmart probably would retain the top executives of Flipkart Ltd. Including its CEO Kalyan Krishnamurthy if the proposed takeover for majority of stakes goes through. Walmart is competing neck-to-neck with e-commerce giant Amazon.com to purchase the majorty of stakes in Flipkart which also is the owner of fashion e-tailers Jabong and Myntra along with payment app PhonePe.
Walmart is presently in talk with Flipkart to procure 55% of the company’s shares. The American retail giant is also devising a plan to retain the top executives of Flipkart along with other senior leaders of Jabong, Myntra and PhonePe.
Myntra CEO Ananth Narayanan and PhonePe co-founders Rahul Chari and Sameer Nigam will probably continue their roles as top brass if Walmart takes over Flipkart in the days to come. Under the proposal put on the table by Walmart, some of the top executives of the company would be paid for the coming years to make sure they stick on to their positions after the successful deal.
The American retail giant has also shown keen interest in providing a bigger role to Flipkart’s executive chairman Sachin Bansal and probably increase his involvement in the running of the company. It is interesting to note that Bansal was removed from the post of CEO in January 2016.