Sachin Bansal previously held the CEO tag, while Binny Bansal was the COO of the company.
Flipkart, in a massive management restructuring, has named co-founder Sachin Bansal as the executive chairman of the e-commerce company. Binny Bansal, on the other hand, is now the chief executive of the company.
Sachin Bansal previously held the CEO tag, while Binny Bansal was the COO of the company.
As the executive chairman, Sachin Bansal will be in-charge of providing strategic direction for Flipkart, mentor the senior leadership of the company and look for new investment opportunities, Flipkart said in a blog post.
"He will also play an active role in championing the Indian e-commerce sector and building the internet ecosystem, and represent the company in external forums. Sachin will continue to be the Chairman of the Board," the company has said.
Commenting on the high-profile re-shuffle, Sachin Bansal 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.
"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,” he said.
Speaking about Binny Bansal as the new CEO, Sachin Bansal said, "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."
Binny Bansal, while speaking about his appointment as CEO 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% 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. 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.”
Meanwhile, Mukesh Bansal will continue as the Head of Commerce Platform for Flipkart's core business, with the additional responsibility of the advertising business. He will also continue as the chairman on Myntra.
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