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Sachin Bansal appointed Flipkart's Executive Chairman
11
Jan '16
In a major reshuffle, e-commerce major Flipkart has appointed Sachin Bansal, CEO and co-founder of Flipkart, has been appointed as Executive Chairman and its other co-founder and COO Binny Bansal, as the new CEO of the company, it said in a blogpost.

As Executive Chairman, Sachin will provide strategic direction to Flipkart, mentor senior leadership and look for new investment opportunities. He will play an active role in championing the Indian e-commerce sector and building the internet ecosystem, and represent the company in external forums. He will continue to be the chairman of the Board.

"E-commerce in India is going through its most exciting phase and Flipkart has played a pioneering role in shaping this very remarkable journey. We believe that Flipkart can play a transformational role in improving commerce in India and improve the quality of lives of millions of people across the farthest corners of the country," Sachin said. "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 CEO, Binny will be responsible for its operations and overall performance. All the business areas - commerce, Ekart and Myntra will now report to Binny. All corporate functions including human resources, finance, legal, corporate communications and corporate development will also report to Binny.

Binny Bansal, co-founder and CEO, Flipkart said, "At Flipkart, we have come a long way in our eight year journey. 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. The journey ahead is equally exciting and challenging. 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 as 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. "These are exciting times for Flipkart. We have achieved leadership in e-commerce based on our focus on the Indian consumer and a great execution capability. Today, Flipkart is 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" (SH)

Fibre2Fashion News Desk - India

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