In an unexpected move, India’s biggest e-commerce company Flipkart has announced its co-founder and COO Binny Bansal as its new CEO; while Sachin Bansal, the other founder and CEO will be taking the role of executive chairman.
The $15-billion company’s move is intended to reshape its strategic plans and objectives in countering stiff competition from Amazon and make Flipkart the leading internet company in the world & play an active role in transforming India’s e-commerce sector.
Binny Bansal will be taking care of the operations and overall performance. Every business areas that include E-kart, Myntra and new business will be reporting to him.
Binny Bansal will also be heading the corporate arm which includes human resources, accounts and company developments.
Sachin Bansal will be taking care Flipkart’s strategic plans, newer investments options and mentor senior leadership.
Mukesh Bansal, who was touted to be the next-inline CEO will be continuing as the chairman of Myntra and heading Flipkart’s commerce platform. Additionally Mukesh will be responsible of Flipkart’s overall ads business.
The current ads business head Ravi Garikipati will be reporting to Mukesh Bansal.