Flipkart Co-Founder May Quit After Walmart Takeover

Published on 04 May 2018 by Shivi

Flipkart’s Executive Chairman Sachin Bansal, who is also the co-founder of India’s e-commerce giant, may quit the company. The speculations of his exit have started amidst the takeover negotiations by the US retail giant Walmart. Sachin will quit the Bengaluru-based e-commerce platform if the negotiations are successful.

Reports state that Sachin had no intentions of leaving the company until last week and was going to look for a more prominent role in the company. After serving Flipkart as the longest-serving CEO, Sachin may work with other startups and mentor other entrepreneurs.

This decision will be finalised over the next week as Walmart and Flipkart finalise the deal and decide upon the composition of the Board. Although, Walmart has been keen on keeping the Group CEO  Binny Bansal and Flipkart CEO Kalyan Krishnamurthy who have been active members of running everyday operations.

Flipkart, one of India’s leading e-commerce platforms was founded in 2007 by IIT-Delhi alumni and former Amazon executives Sachin Bansal and Binny Bansal in a Bengaluru apartment. Binny was previously serving as the Chief Operating Officer (COO) leading the logistics function.

However, he took over as CEO from Sachin, who was promoted to Executive Chairman in January 2016. The exit of one of the co-founders of the e-commerce giant will be a significant change.


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