e-commerce
Hari V Krishnan to step down as CEO of PropertyGuru group
MUMBAI: In a significant leadership announcement, Hari V. Krishnan has decided to step down as CEO of the Singapore-based PropertyGuru group after nearly a decade of remarkable growth and innovation.
Reflecting on his tenure, Hari highlighted key milestones such as achieving market leadership across regions, expanding into Vietnam, forming a transformative partnership in Malaysia, and leading the company’s public listing on the NYSE.
Hari’s leadership also saw the incubation of new businesses and solutions, multiple funding rounds, and the recent strategic partnership with EQT Group wherein the Swedish alternative investment firm acquired it at a valuation of $1.1 billion and delisted it from the NYSE. He will transition into the role of senior advisor to the board once a new CEO is in place.
PropertyGuru announced that Lewis Ng will take over as CEO in March. With a robust background at global firms such as Seek, TripAdvisor, and Apple, along with prior experience at PropertyGuru, Lewis is poised to lead the company into its next growth phase. Trevor Mather will join as chairman, bringing extensive experience from AutoTrader and Thoughtworks, alongside new board members Janice Leow and Ed Williams.
Hari expressed gratitude to stakeholders, reflecting on his journey of empowering communities to thrive and expressing confidence in the company’s future under new leadership.
Prior to heading the PropertyGuru group, Hari was a well-known executive in India as Linkedin vice president & MD, Asia Pacific & Japan before that country manager for India. He began his career wih Ciso as a product manage/ customer support engineer based in San Jose, moving onto assignments with Yahoo India, travelguru, Myspace, and then Linkedin. He is a mentor and investor in several startops.
e-commerce
Flipkart rolls out 105 per cent bonus for 20,000 employees
Strong FY25 performance drives payouts even as layoffs and shifts unfold.
MUMBAI: In a year where belts were tightened and rewards loosened, Flipkart seems to be playing both offence and defence trimming roles on one hand while handing out a generous 105 per cent bonus on the other. The Walmart owned e commerce major has rolled out a 105 per cent bonus payout for 2025, covering nearly 20,000 employees, signalling a year of steady operational momentum even as the company navigates restructuring pressures. The payout, communicated internally by chief human resources officer Seema Nair, is tied to performance across key metrics including growth, operational efficiency, financial outcomes and people indicators, a combination that suggests the company is inching closer to its long stated goal of sustainable profitability.
Employees at SD level and below are set to receive their bonuses in March, while payouts for senior leadership, including vice presidents and senior vice presidents, will follow after the close of the performance cycle. The elevated 105 per cent multiplier stands out in a sector where cautious payouts have increasingly become the norm, pointing to what appears to be a relatively strong internal scorecard for FY25.
Yet, the announcement arrives with a noticeable contrast. Earlier this year, Flipkart reduced its workforce by around 300 roles as part of its annual performance review process. While officially framed as performance driven, the juxtaposition of layoffs alongside above target bonuses reflects a more nuanced balancing act, one that prioritises cost discipline while continuing to reward and retain high performing talent.
This dual approach is becoming increasingly common across the technology and e commerce landscape, where companies are navigating an uneven hiring environment while under pressure to deliver profitability. Rewarding top contributors, even amid selective workforce reductions, allows firms to maintain morale and retain critical talent without losing sight of financial prudence.
At the same time, Flipkart is also undergoing leadership shifts that hint at a broader strategic recalibration. Nishant Verman has been appointed senior vice president for corporate development and partnerships, while group chief financial officer Sriram Venkataraman is set to step down. Ravi Iyer will take on expanded responsibilities within the finance function, marking a reshuffle at the top as the company gears up for its next phase.
These changes come amid reports that Flipkart is planning to shift its holding structure back to India, a move widely interpreted as groundwork for a potential public listing. While timelines remain fluid, the combination of stronger financial discipline, leadership restructuring and employee incentivisation suggests a company preparing itself for greater scrutiny and scale.
For employees, the 105 per cent payout offers a welcome boost in what has otherwise been a period of adjustment. For Flipkart, it is a signal that even as it cuts where necessary, it is willing to spend where it counts. In the high stakes game of growth versus profitability, the company appears to be hedging its bets carefully, rewarding performance while reshaping itself for what could be its most defining chapter yet.
