E-commerce marketplace Flipkart has promoted Sriram Venkataraman as Chief Financial Officer (CFO) for Flipkart and Myntra with immediate effect. Post appointment, he will be reporting to Chris Nicholas, Executive Vice President, and CFO, Walmart International.
Venkataraman has been a part of Flipkart since September 2015. He was serving the company as CFO with additional charges of COO from December 2018 and was heading the logistics vertical Ekart, the marketplace, and the retail vertical, as part of his additional role.
Now, Venkataraman will be heading the company as CFO of both Flipkart and Myntra. The development comes a day after McNeal, Flipkart Group CFO, put in his papers after serving the company for 22 months. McNeal has now decided to return to the US to pursue a career opportunity outside the Walmart Group.
“Sriram has consistently demonstrated his expertise managing several diverse functions at Flipkart and is well poised to take on the responsibilities as Flipkart Commerce CFO”, said Kalyan Krishnamurthy, Chief Executive Offer, Flipkart Group, in a statement.
As a part of his new role, Venkataraman will be responsible for key finance operations and functions at Flipkart and Myntra, including Tax, Risk Management, and Treasury. In addition, he will also be handling Corporate Development at Flipkart, while procurement, planning, and analytics decision sciences will continue to report to him.
The development comes soon after the Indian government relaxed norms for e-commerce platforms during the ongoing lockdown. As per new rules, e-commerce platforms can deliver essential and non-essential goods in green and orange zones while there is a restriction of such activities in red zones.