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Binny Bansal resigns from Flipkart board, to start new e-commerce venture: Report

The departure follows reports indicating Binny Bansal's intention to re-enter the e-commerce space after Sachin Bansal left Flipkart a few years ago to pursue a fintech venture called Navi.

Akshit Tyagi Edited By: Akshit Tyagi New Delhi Updated on: January 27, 2024 13:32 IST
Binny Bansal
Image Source : FILE Binny Bansal

Binny Bansal, the co-founder of Flipkart, has officially resigned from the board of the e-commerce giant after recently selling his remaining stake in the startup. His departure follows earlier reports indicating his intention to re-enter the e-commerce space, following in the footsteps of his co-founder, Sachin Bansal, who left Flipkart a few years ago to pursue a fintech venture called Navi.

Binny Bansal expressed pride in Flipkart Group's achievements over the past 16 years and affirmed the company's strong position with a capable leadership team. He stated, "With this confidence, I have decided to step aside, knowing the company is in capable hands. I wish the team the best as they continue to transform experiences for customers, and I remain a strong supporter of the business."

Leigh Hopkins, Executive Vice President of International Strategy & Development and Regional CEO of Asia and Walmex, acknowledged Binny's unique contribution to the company as a founder and expressed gratitude for his counsel and insight since Walmart's investment in 2018.

Kalyan Krishnamurthy, CEO and Flipkart Board Member, also appreciated Binny's partnership and highlighted the invaluable insights and expertise he brought to the board. Krishnamurthy emphasised Flipkart as the result of a great idea and dedicated teamwork committed to transforming the shopping experience in India.

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