In a major top deck management reshuffle, Flipkart, the country’s largest ecommerce company, announced that the current CEO and Co-founder, Sachin Bansal will step down from his role, and will be replaced by Binny Bansal, COO and Co-founder of Flipkart.
Sachin Bansal will now be the Executive Chairman of the company and will provide strategic direction for Flipkart, mentor the senior leadership of the company and look for new investment opportunities, a company statement announcing the shuffle said.
Binny Bansal as Chief Executive officer will now be responsible for operationally driving the company and will 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.
“Today, we are in a very strong leadership position with over 60% market share of the m-commerce market, 50 million customers and clear leadership in smartphones and fashion. The journey ahead is equally exciting and challenging. Flipkart has all the necessary ingredients of brilliant talent and great technology to win this next phase as well,” Binny Bansal said in a statement.
“We will continue to build world-class customer experience, expand our supply chain infrastructure to reach all parts of India, drive innovations in mobile commerce and bring in disruptive technologies,” he added.
Mukesh Bansal will continue to be the Head of Commerce Platform, Flipkart’s core business, and will have additional responsibility of the ads business. Mukesh will also continue in his role as Chairman of Myntra.