New Delhi, March 20 -- Flipkart Group CFO Sriram Venkataraman is stepping down from his role, the e-commerce major said in a statement on Friday. In the interim, Flipkart CFO Ravi Iyer will oversee the broader finance function.

The development comes ahead of the Walmart-backed company's planned initial public offering (IPO) in India.

Venkataraman, who has been with Flipkart for over a decade, will exit over the next few months. The company has not yet named a successor.

"Sriram will remain with the company for a period of time to ensure continuity and a smooth transition. During this period, Ravi Iyer, CFO, Flipkart, will oversee the broader finance organisation," the company said.

Flipkart also announced the appointment of Nishant Ve...