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CEO of billion-dollar business trades places with an employee
Designer Padmini Pagadala had been working at Flipkart for about four years when she was tapped to become CEO — for one day.
As India's Business Today reports, in order to "inspire" its staff in honor of its 10th anniversary, the company held a competition to determine which regular employee would get the promotion. Pagadala, who describes herself as an "artist-engineer," won the honor.
Kalyan Krishnamurthy, who has been CEO since January, tweeted about the decision.
Her responsibilities included holding and attending meetings. And, at the end of the day, it appears, Pagadala surrendered power peacefully.
This is Krishnamurthy's first gig as a chief executive officer, so he knows something about taking a big step up. Before he took over, he led the design department. Earlier he spent over four years as a director at eBay Asia Pacific.
The Indian e-commerce company recently received a $1.4 billion investment from eBay and Microsoft and acquired eBay India. According to a press release about the deal, "The latest funding round from the three global technology giants, at a post-transaction valuation of $11.6 billion, adds to an existing group of marquee investors that include Tiger Global Management, Naspers Group, Accel Partners and DST Global."
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