Today, India’s e-commerce giant Flipkart, announced their decision of appointing Binny Bansal, the company’s chief operating officer, as the new CEO. He will be taking over the post from the present CEO Sachin Bansal, who will take over the role of the Executive Chairman.
The shuffling in the top management is a first since the company’s inception eight years aog. This reshuffling comes at a time when the company is facing immense competition from the global e-tailer giant Amazon. The Bansals, who are unrelated, used to work together at Amazon, before setting up Flipkart. Following the restructuring, Mukesh Bansal, the co- founder of Myntra, which was acquired by Flipkart, will now be reporting to Binny. Mr. Mukesh also has the responsibility of managing the overall ads business.
Sachin, in his new role, will be focusing on the company’s strategic directions, looking for new investment opportunities and mentoring senior leadership. Binny as CEO will be responsible for operations and overall performance. All business areas, including commerce, logistics arm Ekart, fashion subsidiary Myntra and new businesses, along with all corporate functions, including human resources, finance, legal, corporate communications and corporate development, will report to Binny.