Two days after the Group CEO and Chairman Binny Bansal resigned, more than 20 executives at Walmart-acquired Flipkart have reached out to explore job opportunities to five leading companies.
With the buzz around a probable merger of Jabong and Myntra in this situation, more senior executives are expected to look out, and many of them may get absorbed into other ecommerce firms. “Integration has been long due for Flipkart. Also, with the change in management in any firm, there is bound to be movement, especially outbound, leading to more resignations,” said Sunil Goel, MD at Delhi-headquartered search firm Global Hunt, which has received at least 10 resumes from senior executives at Flipkart over the last couple of days.
“There have been indications that Flipkart, Myntra and Jabong may merge and with this, we anticipate exits as there would be a duplication of profiles,” said Kris Lakshmikanth, CEO at The Head Hunters. “Also, we may see the exit of Ananth (Narayan, CEO at Myntra-Jabong) that may further trigger more exits,” he added.
Headhunters point out that the probable merger of Myntra, Flipkart and Jabong may lead to duplication in many roles. “One of the key functions to be impacted is likely to be the buy and purchase team that would surely lead to duplication and hence exits,” an executive of a Bengaluru-based search firm said on condition of anonymity.
“Many ecommerce companies are on the lookout for premium talent in case available,” said Pankaj Bansal, CEO at HR solutions firm PeopleStrong.Uday Chawla, Managing partner at Transearch India, said it’s only a matter of time before the exit of senior executives stopped.
“With every change in leadership at successful companies, exits follow,” he said.
Flipkart is one of the most prized firms in the country, employing over 30,000 people. In May this year, US retailer Walmart bought 77% stake in Flipkart for $16 billion, acquiring the country’s largest ecommerce company at $22 billion, in its biggest acquisition globally.