Sriram Venkataraman to be CFO of Flipkart Commerce

Sriram Venkataraman to be CFO of Flipkart Commerce
Photo Credit: Reuters
5 May, 2020

Sriram Venkataraman has been elevated to the position of chief financial officer (CFO) for Walmart-owned Flipkart Commerce, which includes ecommerce marketplace Flipkart and fashion vertical Myntra.

He has been the CFO of Flipkart since October 2015.

The appointment comes after the company’s group CFO Emily McNeal stepped down to return to the US and pursue a career outside the Walmart Group, the company said in a statement.

“We thank Emily for her leadership and guidance in strengthening the governance process and financial reporting at Flipkart post the Walmart investment. She has been instrumental in driving key investments that have enhanced our hyperlocal and fresh food capabilities, and has been a strong partner in our organisation’s diversity and inclusivity journey,” Kalyan Krishnamurthy, CEO of the group, said.

Venkataraman will be responsible for key finance operations and functions at Flipkart and Myntra, including tax, risk management and treasury, the company said. He will also be responsible for corporate development at Flipkart while procurement, planning and analytics and decision sciences teams will continue to report to him, the statement added.

“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,” Krishnamurthy said.

He will report to Chris Nicholas, executive vice president and CFO of Walmart International, the statement said.

An alumnus of IIT-Madras and the Indian School of Business, Venkataraman spent a major part of his career at consumer goods giant Hindustan Unilever before joining Flipkart. Subsequently, he was elevated as the finance head in March 2017. In December 2018, he was given the additional role of chief operating officer after the post fell vacant when Nitin Seth was dismissed from the company in May 2017, a decision that was later contested by Seth legally.

Additionally, Dawn Marie Ptak, vice president and group controller, will continue to be responsible for the group controllership and the divisional controllership functions for Flipkart, Myntra and PhonePe, reporting to the international controller in Walmart International, the statement said. His responsibilities will include management of Flipkart Group’s corporate level tax, treasury, risk management, financial planning and analysis, and internal audits, the statement added.