Flipkart leadership shake-up: 4 executives exit as IPO pressures intensify

At least four senior Flipkart leaders, including SVP Ankit Jain, have quit amid rising cost pressures, IPO plans, and intensifying rivalry in the quick commerce space

At least four senior leaders at Flipkart — including a senior vice-president and three vice-presidents — have stepped down and are in the process of leaving the Walmart-owned e-commerce giant, Moneycontrol reported. 

The exits include Ankit Jain, SVP and head of grocery and large supply chain; Prajakta Kanaglekar, VP of HR (Technology); Anurag Singhvi, VP and head of analytics; and Ganesh Ramaswamy, who served as VP at Flipkart and Chief Product and Technology Officer (CPTO) at Cleartrip, a subsidiary of Flipkart. 

Among the four, Singhvi had the longest tenure, nearly 13 years at Flipkart. Jain, Ramaswamy, and Kanaglekar had each been with the company for around six years.   

 

 

  Ankit Jain is set to join Swiggy Instamart, one of Flipkart’s emerging competitors in the quick commerce space. “Ankit will join as SVP of Instamart, replacing SVP and chief operating officer (COO) Sairam Krishnamurthy,” the news report quoted a source as saying. 

Krishnamurthy, who had joined Swiggy Instamart in August 2024 as its first COO, previously worked at More Retail, an Amazon-backed retail chain formed through a joint venture with Samara Capital. His earlier experience includes leadership roles at Unilever and Hindustan Unilever Limited (HUL). 

Jain will now work closely with Amitesh Jha, CEO of Swiggy Instamart and his former colleague from Flipkart, with whom he worked until August 2024. 

These leadership moves come as competition in the quick commerce sector intensifies. Flipkart Minutes is gearing up to challenge Swiggy Instamart, Blinkit (backed by Zomato), and Zepto more aggressively.

 

These departures add to a growing list of senior-level exits at Flipkart in recent months. Executives like Ravi Vijayraghavan (SVP), Harsh Chaudhary (VP), Sandeep Karwa (VP), and Mayur Datar (VP) have also left the company recently.   

 

Flipkart cuts costs ahead of IPO plans

In April, Flipkart’s board had directed the company’s leadership to significantly reduce its monthly cash burn. This came at a time when the firm prepared for a potential IPO in India and considered shifting its holding entity from Singapore. 

At present, Flipkart is spending nearly $40 million monthly on operations. CEO Kalyan Krishnamurthy has reportedly been asked to cut this figure to about $20 million in the coming quarters, making the company more financially agile ahead of its public offering.

 

Dark stores expansion amid cost cuts

The company also plans to open 500 new dark stores in the next eight months to boost its presence in the rapid delivery sector — a move that adds financial pressure. Flipkart Minutes competes with Blinkit, Zepto, Swiggy Instamart, and BigBasket. 

The company recently shut its pharmacy unit, Flipkart Health+, and is trimming other non-core areas. While Flipkart’s monthly spend remains high, its scale is much larger than rivals. In FY24, Flipkart Internet saw revenue grow 21 per cent to ₹17,907.3 crore, while losses dropped 41 per cent to ₹2,358 crore, aided by higher ad income.