Flipkart’s Binny Bansal exits board

Bansal exits Flipkart: Flipkart co-founder Binny Bansal has officially resigned from the board of the e-commerce giant following his recent sale of the remaining stake in the startup, according to media reports. The departure aligns with earlier reports on Binny Bansal's intention to venture into the e-commerce space once again following his fellow co-founder Sachin Bansal, who exited Flipkart a few years ago to pursue a fintech venture called Navi.

According to reports, Binny Bansal expressed pride in the achievements of the Flipkart Group over the past 16 years and affirmed the company's robust position with a strong 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, 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 extended appreciation for Binny's partnership and underlined the invaluable insights and expertise he brought to the board. Krishnamurthy highlighted Flipkart as the result of a great idea and dedicated teamwork committed to transforming the shopping experience in India.

Binny Bansal's departure signifies a notable transition for Flipkart, and the company expressed gratitude for his significant impact on the Indian retail ecosystem.