Flipkart announced the appointment of Sachin Bansal as executive chairman and Binny Bansal as the chief executive officer.
At present, Sachin Bansal is the CEO and Binny Bansal is COO of Flipkart.
Both Sachin Bansal and Binny Bansal are the co-founders of Flipkart that pioneered the Indian e-commerce market place.
Sachin Bansal as chairman of Flipkart will provide strategic direction, 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 building the internet ecosystem.
Binny as chief executive officer will be responsible for operationally driving the company and will be accountable for Flipkart’s overall performance. All the business areas – Commerce, Ekart and Myntra – and all corporate functions including human resources, finance, legal, corporate communications and corporate development will report to Binny.
Flipkart has over 60 percent share of the m-commerce market, 50 million customers and leadership in smartphones and fashion.
Mukesh Bansal will continue to be the head of Commerce Platform, Flipkart’s core business, and will have additional responsibility of the ads business. Mukesh will also continue in his role as chairman of Myntra.
Competing with Amazon India, Flipkart offers more than 30 million products across 70+ categories including books, media, consumer electronics, furniture and lifestyle.
Launched in October 2007, Flipkart is valued at $15.2 billion today. Over 75 percent of Flipkart’s traffic comes via the mobile device. Clocking over 10 million daily visits, Flipkart’s technology has enabled it to deliver 8 million shipments per month.