Flipkart has announced that Co-Founder and Chief Operating Officer (COO), Binny Bansal now has been appointed as the Chief Executive Officer (CEO) and Co-Founder and CEO of Flipkart, Sachin Bansal is now the Executive Chairman at the Flipkart.
"Sachin will provide strategic direction for Flipkart, mentor the senior leadership of the company and look for new investment opportunities," said Flipkart. He will continue st his position as chairman of the Board.
Binny Bansal will take care of day to day business of the Company. Business areas such as- Commerce. Myntra, Ekart and all corporate functions such as Human Resources, Finance, Legal, Corportae and Corporate development team will now report to him.
“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,” said Binny Bansal. “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.” Said Binny Bansal, Co-Founder and CEO of Flipkart.
Flipkart’s management rejig comes shortly after reports that the company is looking to raise about $1.4 billion,, in a bid to continue its momentum in e-commerce segment.