News Flipkart rejigs top management; Binny Bansal new CEO

[scorpionking76]

In a top management rejig, e-commerce firm Flipkart on Monday appointed Binny Bansal as the Chief Executive Officer and Sachin Bansal as the Executive Chairman.

“Sachin Bansal, CEO and co-founder of Flipkart, will be the Executive Chairman of the company and Binny Bansal, COO and co-founder of Flipkart, will be the Chief Executive Officer,” Flipkart said in a statement.

In his role as the Executive Chairman, Sachin will provide strategic direction and mentor the senior leadership as also look for new investment opportunities.

While, Binny as the CEO will now be responsible for operationally driving the company and be accountable for Flipkart’s overall performance.

Flipkart rejigs top management; Binny Bansal new CEO - The Hindu

 

[Technoglitch]

The clear demaracation of roles between founding members Sachin Bansal and Binny Bansal of Flipkart was only expected and it was only a matter of time before they exchanged roles or took on different mantles, say analysts who have been tracking the growth of the home-grown e-commerce giant.

When Flipkart was founded in October, did IIT Delhi alumni Sachin Bansal and Binny Bansal, who worked with Amazon earlier and got together to start the behemoth ever think it would have leapt to the growth it has seen? The humongous growth of the company has necessitated changes in the way the executives have helmed the business.

Investors in Flipkart have grown over the years, some have diluted their stakes and a few have exited it. With Amazon panting close to Flipkart, and the oft-reported IPO that has been 'coming soon' for some time now, it would have been prudent for the founders to have different roles to take on the new challenges the market and the ecosystem offer.

Here's why investor community is kicked about Bansals' role change at Flipkart - Firstpost

 

[IndianMascot]

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