Sachin Bansal and Binny Bansal had launched Flipkart in 2007
E-commerce major Flipkart on Monday announced that Binny Bansal, co-founder and COO, will be the new chief executive officer of the company. Co-founder Sachin Bansal, who is the current CEO, will be the executive chairman.
In his role as executive chairman of Flipkart, Sachin Bansal will provide strategic direction for Flipkart, mentor the senior leadership of the company and look for new investment opportunities, the e-tailer said in a statement. Sachin Bansal will continue to be the chairman of the board.
Sachin Bansal in a statement said: "E-commerce in India is going through its most exciting phase and Flipkart has played a pioneering role in shaping this very remarkable journey. We believe that Flipkart can play a transformational role in improving commerce in India."
All the business areas - Commerce, Ekart and Myntra - will now report to Binny Bansal, Flipkart said. All corporate functions including human resources, finance, legal, corporate communications and corporate development will also report to Binny Bansal, it added.
Binny Bansal in a statement said: "At Flipkart, we have come a long way in our eight-year journey. 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."
Mukesh Bansal, the chairman of Myntra, will continue to be the head of commerce platform, Flipkart's core business, and will have additional responsibility of the ads business, Flipkart said in a statement.