Flipkart names Sachin Bansal as executive chairman, Binny Bansal as CEO

By afaqs! news bureau , afaqs!, New Delhi | In Digital | January 11, 2016
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Mukesh Bansal will continue to be the head of commerce platform, Flipkart.

Flipkart has announced changes in its senior management. Sachin Bansal, CEO and co-founder of the company, will be the executive chairman. Binny Bansal, COO and co-founder of Flipkart, will be chief executive officer.

Sachin Bansal and Binny Bansal

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. He will play an active role in championing the Indian e-commerce sector and build the internet ecosystem, and represent the company in external forums. He will continue to be the chairman of the board.

Speaking on his new role, he says, "We believe that Flipkart can play a transformational role in improving commerce in India and improve the quality of life for 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."

As chief executive officer, Binny Bansal, will be responsible for operationally driving the company and will be accountable for Flipkart's overall performance. Business divisions such as commerce, Ekart and Myntra will now be under his supervision, as well as corporate functions such as human resources, finance, legal, corporate communications and corporate development will also be under his purview.

Talking about his new responsibility, Binny Bansal, says, "Today, we are in a very strong leadership position, with over 60 per cent market share of the m-commerce market, 50 million 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. 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 will continue to be the head of the commerce platform, Flipkart's core business, and will have additional responsibility of the ad business. He will also continue in his role as chairman of Myntra.

Speaking on the restructuring, Mukesh Bansal says, "Flipkart is today, a brand trusted by millions across India, backed by a robust seller ecosystem and world-class technology. We are confident that in the coming years, we will continue this momentum as we spread the benefits of e-commerce across the length and breadth of India."

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