Two senior executives at India’s Flipkart leaving to launch own ventures

Separately, Flipkart announced that Nagori was also quitting the company. “In that case, it will be the investors who will decide on the strategic changes in the company rather than the founder or CEO having to decide”.

On Nagori, the spokesperson said: “Ankit has played an instrumental role in introducing newer initiatives at Flipkart and building the marketplace model for the company”.

Mukesh Bansal was supposed to continue in his roles as chairman of Myntra and head of the commerce division.

Besides Mukesh, Ankit Nagori, chief business officer and one of the early Flipkart employees, too has put in his papers and will start a new venture in the area of sports-which is being backed by Sachin and Binny. The other founder of Flipkart Sachin Bansal became the Executive Chairman when Binny Bansal was made the CEO.

A statement from Flipkart said, “Mukesh Bansal, Head of Commerce Platform, Flipkart is moving out of his active role to be an advisor to the company”. I have been discussing this with both of them for a while now and we thought finally this was the time to move on.

Mukesh Bansal joined Flipkart after his company – Myntra, a leading online retailer of lifestyle and fashion products, was acquired by Flipkart around two years ago for $375 million. “Also, in the next few months I will make sure I spend more time with my family, who has always been fully supportive of my adventures with Flipkart”, Nagori said in the email.

He added: “I am very excited with Binny coming in as CEO and my transition will enable him to work directly with CP leadership…” I’ve worked very closely with Sachin and Binny on all aspects including strategy and organisation.

“It is the right time for me to move on, as there is great business momentum”. I wanted Binny to understand the commerce platform and build relationships with the leaders there. He was also given the responsibility of Flipkart’s ads business. He added that after leaving Flipkart, he intends to take a break of two or three months before kick-starting the operations of his new company.

“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. Mukesh was the head of commerce and advertising business at Flipkart.