Walmart CEO meets senior Flipkart officials to reiterate commitment
US business Walmart’s CEO Doug McMillon met with senior Flipkart officials in Bengaluru to review the e-commerce business’ performance and restate his commitment to the firm.
Walmart’s McMillon, accompanied by other senior Walmart executives including EVP for corporate affairs Dan Bartlett and EVP regional CEO for Asia and Canada Dirk Van den Berghe, traveled to Bengaluru to discuss Flipkart’s performance and targets. The move was partly to show support for Flipkart, which Walmart acquired last year, after the business’ co-founders Sachin and Binny Bansal both exited the business, TNN reported.
“He is delighted with the progress the team is making to take e-commerce to the next 200 to 300 million customers in India,” Flipkart said in a statement to the Times of India. Notable topics of conversation are expected to have included current Flipkart CEO Kalyan Krishnamurthy’s work to stabilise operations in fashion businesses Myntra and Jabong and PhonePe payments business’ early plans to rise capital.
This was the first time McMillon had visited India after the government introduced new foreign direct investment norms that caused Flipkart to re-evaluate much of its private label business, especially in fashion. McMillon did not meet with any government officials on his trip and chose to focus on Flipkart.
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