Flipkart, India’s largest e-commerce marketplace with over 60% market share in mobile commerce, has announced new management structure. As per new arrangement, 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 of Flipkart.
In his role as Executive Chairman of Flipkart, Sachin will provide strategic direction for Flipkart, 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, and represent the company in external forums. Sachin will continue to be the Chairman of the Board, as stated by the company in its press statement.
Binny as Chief Executive officer will now be responsible for operationally driving the company and will be accountable for Flipkart’s 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.
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.
Launched in October 2007, Flipkart has a registered customer base of 50 million. Flipkart offers more than 30 million products across 70+ categories including Books, Media, Consumer Electronics, Furniture and Lifestyle.
Flipkart is known for its path-breaking services like Cash on Delivery, experience zones and a 30-day replacement policy. Flipkart was the pioneer in offering services like In-a-Day Guarantee (50 cities) and Same-Day-Guarantee (13 cities) at scale. With 80,000 registered sellers, Flipkart has redefined the way brands and MSME’s do business online.