Flipkart rejigs top management

Binny appointed as new CEO

ECommerce major Flipkart on Monday announced major changes to its management structure. As per the announcement made by the company, Sachin Bansal, chief executive officer(CEO) and co-founder of Flipkart will be the executive chairman of the company and Binny Bansal, chief operating officer and co-founder of Flipkart will be the CEO.

In his role as executive chairman of Flipkart, Sachin will provide strategic direction for Flipkart, mentor the senior leadership of the company and look for new investment opportunities.

He will play an active role in championing the Indian eCommerce sector and building the internet ecosystem, and represent the company in external forums. Sachin will continue to be the chairman of the board, Flipkart said in a statement.

Binny as CEO 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.

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.

“In this next phase of the journey, it will be our endeavour to fulfil this responsibility and prove that India can produce a world class internet company that can outshine any global behemoth. We also want to continue to play a pivotal role in shaping the internet and the commerce ecosystem of India,” Flipkart co-founder and executive chairman Sachin Bansal said.

“At Flipkart, we have come a long way in our eight year journey. Today, we are in a very strong leadership position with over 60 per cent market share of the mCommerce 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,” Flipkart co-founder and CEO Binny Bansal said.