Flipkart’s Binny Bansal, new non-founder CEO on what the reshuffle means

Binny Bansal. Photo: Pradeep Gaur/Mint

On Monday, India’s most valuable Internet start-up dramatically announced a top-level management overhaul and named Kalyan Krishnamurthy as the CEO of Flipkart’s core business. The overhaul was identical to the one the company’s board had effected exactly 12 months ago, when it replaced Sachin Bansal from the hot seat and elevated Binny Bansal to the role of CEO. In Monday’s reshuffle, Flipkart created a new role for Binny Bansal and named him Group CEO—a role which will see him oversee functions such as capital allocation, mergers and acquisitions (M&As) and, according to insiders, prime the company for a potential initial public offering (IPO) a few years down the line.

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