India: Flipkart top management changes ahead of possible IPO

India’s biggest e-commerce company Flipkart‘s chief executive and co-founder, Sachin Bansal, will step down and be succeeded by its other co-founder Binny Bansal, in a move viewed by some as a step towards a stock market listing.

Binny, who was chief operating officer before the rejig, launched Flipkart in 2007 with Sachin, who will now take the role of executive chairman. The Bansals, both former Inc employees, are not related.

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