Flipkart group CFO quits as Walmart‑owned firm gears up for India IPO

March 20 (Reuters) - Walmart-owned WMT.O Indian e-commerce firm Flipkart said on Friday its group finance chief, Sriram Venkataraman, will step down, with the CFO of its marketplace unit taking over a temporary broader finance role.

Flipkart did not say when Venkataraman would step down or why he was leaving but said he will remain with the firm during a transition period. Venkataraman has been with the company since 2015.

The change at the top comes as the e-commerce firm, which competes with Amazon AMZN.O in India, is preparing to list its shares in the country. Earlier this month, Flipkart shifted its holding company to India from Singapore.

Flipkart, which started in 2007 by selling books online, was valued at around $37 billion in 2024, when Alphabet's GOOGL.O Google picked up a $350 million stake.

Walmart had bought a controlling stake in Flipkart in 2018 for $16 billion.

Ravi Iyer, a Flipkart veteran of more than 12 years who is the CFO of its marketplace unit, will oversee the broader finance organisation, the group said.

Separately, the company said Nishant Verman, who had played a role in Walmart’s acquisition, has rejoined as senior vice president for corporate development and partnerships.