Binny Bansal Replaces Sachin Bansal as Flipkart's New CEO

BANGALORE: Flipkart, India’s ecommerce giant, recently had a management revamp where the existing CEO Sachin Bansal has stepped down from his designation as the COO and co-founder Binny Bansal would take over to replace him, reports ET.

The news was released officially on the company website stating Sachin Bansal will continue in Flipkart as the executive chairman and "will provide strategic direction for Flipkart, mentor the senior leadership of the company and look for new investment opportunities."

"Binny 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," Bansal said in the company-released statement.

Before being elevated as the new CEO at Flipkart, Binny Bansal, as the COO had taken up the charge of managing and supervising the supply chain and logistics business of the ecommerce company.

 "Today, we are in a very strong leadership position with over 60pct 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," Bansal said in the statement.

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