Soon after the Walmart-Flipkart deal, four senior leaders from the US retail giant have been appointed at the Flipkart Group level. The four senior leaders will make the transfer by October.
The executives that are supposed to make the transfer are Walmart’s M&A head Emily McNeal, who will join the Flipkart Group as senior vice president and group chief financial officer. Another official that will take a transfer consist of Daniel De La Garza, who has come on board as vice president and chief ethics and compliance officer. Next will be Grant Coad as general counsel and Dawn Ptak as vice president and group controller.
“Each of these leaders currently leads crucial charters at Walmart and will bring a wealth of experience to the Flipkart Group,” stated co-founder Binny Bansal. “Their expertise will be immensely valuable in giving a major boost to our efforts to take Flipkart to the next level of growth and compliance — a journey we have already embarked upon.”
McNeal, Garza and Coad will report to Bansal, while Ptak will report to McNeal. The major areas of focus will be group strategy, mergers and acquisitions, IPO preparation, accounting and controls, US GAAP, among others.
This deal, which saw the exit of multiple shareholders of Flipkart including South Africa’s Naspers, Japan’s SoftBank and early investor Accel Partners, led to a tax withholding of Rs 7,439.40 crore by Walmart. Following this, the tax authorities recently asked Walmart to provide a break up of the tax withheld.