India-based e-commerce giant Flipkart, owned by Walmart, is undergoing a significant leadership shake-up as it prepares for a potential IPO. On May 14, 2025, four top executives, including SVP Ankit Jain, resigned amid mounting cost-cutting directives, increased competition in the quick commerce space, and intensified strategic restructuring. The exits highlight the company’s internal pressures as it tries to reduce operational spending and sharpen its competitive edge.
Flipkart, one of India’s largest e-commerce companies owned by US-based Walmart, is witnessing a significant churn in its top leadership just as it gears up for a potential IPO. On May 14, 2025, at least four senior executives, including Senior Vice President Ankit Jain, resigned from the company amid mounting cost-control pressures and intensifying competition in India’s quick commerce space.
The executives stepping down 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, VP at Flipkart and CPTO at Cleartrip, Flipkart’s travel subsidiary. Singhvi had been with Flipkart for nearly 13 years, while the others had served around six years each.
Ankit Jain is set to join rival quick commerce platform Swiggy Instamart as its new SVP, replacing outgoing COO Sairam Krishnamurthy. Jain will report to Swiggy Instamart CEO Amitesh Jha, a former Flipkart colleague.
The resignations come as Flipkart prepares for an IPO in India and considers shifting its holding company from Singapore to India. The company’s board recently directed a sharp reduction in monthly operational costs—from the current $40 million to about $20 million—in order to strengthen financial performance ahead of the public offering.
Flipkart has also announced plans to expand its network of dark stores by adding 500 new locations over the next eight months to boost its rapid delivery service, Flipkart Minutes. However, these expansion efforts coincide with the shutdown of Flipkart Health+, its pharmacy vertical, and a trimming of other non-core units.
In FY24, Flipkart Internet reported a 21% increase in revenue, reaching ₹17,907.3 crore, while reducing its losses by 41% to ₹2,358 crore, largely due to growth in advertising revenue.
The leadership exits and aggressive restructuring reflect the increasing pressure Flipkart faces from rivals like Blinkit, Zepto, and Swiggy Instamart, as the quick commerce segment becomes the next big battleground in Indian e-commerce.
