Flipkart Announces New CEO

Ecommerce giant Flipkart has announced major structural change in the management. Founder Sachin Bansal (CEO & co-founder) has now been appointed as the Executive Chairman in the company, on the other hand, Binny Bansal (COO and co-founder) will be the new Chief Executive Officer of Flipkart.

Sachin’s new role as Executive Chairman will help provide strategic direction for Flipkart, mentor the senior leadership of the company as well as look for new investment opportunities. Apart from that, he will also play an active role in championing the Indian ecommerce sector and building the internet ecosystem, as well as represent the company in external forums. Sachin will also continue to be the Chairman of the Board.

Speaking on the development, Sachin Bansal, co-founder & Executive Chairman at Flipkart said, “We believe that Flipkart can play a transformational role in improving commerce in India and improve the quality of lives of millions of people across the farthest corners of the country.” He also mentioned that the company wants to continue playing a pivotal role in shaping the internet and the commerce ecosystem of India.

Binny Bansal in the new role – will take care of the operations and will be responsible for Flipkart’s overall performance. All the business areas such as Commerce, Ekart and Myntra will now report to Binny. Apart from that, all corporate functions including HR, finance, legal, corporate communications and corporate development will also report to Binny.

“With a strong leadership position of over 60% market share of the mcommerce market, 50 Mn customers and clear leadership in smartphones and fashion, Flipkart has all the necessary ingredients of brilliant talent and great technology to win this next phase as well.” said Binny Bansal.

As for Mukesh Bansal, the founder of Myntra, will be the Head of Commerce Platform, Flipkart’s core business, and will have additional responsibility of the ads business. He will also continue in his role as Chairman of Myntra.

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