Also, chief business officer Ankit Nagori has resigned, and will be serving Flipkart for another three months.
“My incredible journey with Myntra and Flipkart comes to an end,” Mukesh Bansal wrote in an email to the Flipkart staff. “I am very excited with Binny [Bansal] coming in as CEO and my transition will enable him to work directly with CP (commerce platform) leadership,” read the mail.
The company had rejigged the roles of its two co-founders in January when it appointed co-founder and then-CEO Sachin Bansal as its executive chairman and co-founder and then-COO Binny Bansal as the new CEO to take care of day-to-day affairs.
Flipkart co-founder Binny Bansal, who will now directly oversee the commerce and advertising platforms, said, “Mukesh will continue to be an adviser to Flipkart and Myntra, besides me and Sachin (Bansal) personally. He has been one of the best leaders that I have had the privilege to work with.”
An IIT-Kanpur graduate, Mukesh started his career with Deloitte Consulting in 1997 and worked with and founded a bunch of startups in Silicon Valley before moving to Bangalore in 2007 to start Myntra with Ashutosh Lawania. Mukesh Bansal joined Flipkart when it acquired his fashion portal Myntra for about $375 Mn in May 2014.
“Things are all settled at Flipkart now and the time is right,” said Mukesh Bansal, who plans to take a break from work for 3-6 months and return to starting up after that. He further added, “Myntra has a new leader and is on a good path to profitability. Over the past one year, we have built the best leadership team for Flipkart.”
As for Ankit Nagori, he has been with Flipkart since 2010 and now plans to start a sports talent development company – a field he is passionate about. The firm is likely to be backed by Sachin Bansal and Binny Bansal, Nagori said.