India’s leading ecommerce marketplace Flipkart has announced the appointment of Sriram Venkataraman as Chief Financial Officer (CFO) for Flipkart Commerce (Flipkart and Myntra).
This change arose as Emily McNeal, who held the role of Flipkart Group CFO since September 2018, has decided to return to the US and also will also be leaving the Walmart Group.
A press release from Flipkart stated that the appointment is effective immediately and his responsibilities will also include tax, risk management, and treasury. Sriram will also be responsible for corporate development at Flipkart, while procurement, planning and analytics, and decision sciences will continue to report to him.
Sriram will be reporting to Chris Nicholas, Executive Vice President and CFO, Walmart International.
Sriram has been with Flipkart since September 2015. He has been the company’s CFO with additional charges of COO since December 2018, and was heading the logistics vertical Ekart, the marketplace, and the retail vertical, as part of his additional role.
On the new appointment, Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, said, “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. I wish both Emily and Sriram the best for their future endeavors.”
The ecommerce retailer stated that Dawn Marie Ptak, Vice President and Group Controller, will continue to be responsible for the group controllership and divisional controllership functions for Flipkart, Myntra, and PhonePe. She will be reporting to the International Controller in Walmart International.
Dawn will take on the responsibility of the Flipkart Group corporate level responsibilities for tax, treasury, risk management, financial planning and analysis, and internal audits.
Flipkart was acquired by Walmart in 2018 in a deal valued around $16 billion, which was the largest such transaction for the Indian startup ecosystem.
Following this acquisition, both the founders of Flipkart – Sachin Bansal and Binny Bansal — left the company they had founded in 2007.
Edited by Kanishk Singh