Flipkart rejigs top brass, elevates Binny Bansal as chief executive

New Delhi, January 11 

In a major top management rejig at Flipkart, Binny Bansal will be the new CEO in place of his co-founder Sachin Bansal, who would become executive chairman of India’s biggest e-commerce company. Binny till now was the chief operating officer (COO).

Sachin along with Binny launched Flipkart in 2007.

Flipkart said Sachin “will provide strategic direction for Flipkart, mentor the senior leadership and look for new investment opportunities.” “Binny as the CEO will now be responsible for operationally driving the company and be accountable for Flipkart’s overall performance.

“All the business areas — Commerce, Ekart and Myntra will now report to Binny. All corporate functions, including human resources, finance, legal, corporate communications and corporate development will also report to Binny,” the statement said.

The management change comes amid talks of Flipkart, which is valued at around $15 billion, preparing for an IPO in the US.

Binny Bansal, as the COO, was till now responsible for overseeing the company’s critical supply chain and logistics business.

“Today, we are in a very strong leadership position with over 60 per cent market share of the m-commerce market, 50 million customers and clear leadership in smartphones and fashion. — PTI