Mukesh Bansal, Ankit Nagori quit Flipkart

New Delhi, February 10

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Online commerce platform Flipkart’s commerce and advertising business head Mukesh Bansal has decided to quit weeks after the company announced executive level shake up.

Bansal, who joined Flipkart when the online marketplace acquired fashion retailer Myntra in 2014, will continue to serve as adviser to the company.

Flipkart's Chief Business Officer Ankit Nagori has also announced his resignation from the organisation to start a sports company. Interestingly, Flipkart co-founders Sachin and Binny Bansal are his first investors.

"Mukesh Bansal, Head of Commerce Platform, Flipkart is moving out of his active role to be an advisor to the company. Mukesh has played a huge role in making Myntra the number one fashion destination and helped build a strong platform at Flipkart," a Flipkart spokesperson said in an emailed statement.

"Ankit has played an instrumental role in introducing newer initiatives at Flipkart and building the marketplace model for the company. Sachin and Binny will be supporting Ankit in his new initiative and will be his first investors."

Mukesh Bansal plans to take a 3–6 month break from work to spend time with family.

A computer science graduate from IIT-Kanpur, Bansal founded Myntra in 2007. He sold Myntra to Flipkart in one of the largest M&A deals in the Indian e-commerce space. While neither company has disclosed the deal size, it is estimated to be worth Rs 2,000 crore.

Mukesh Bansal's departure is one of the most high-profile exits yet for Flipkart, which competes with Amazon and Snapdeal for a larger space in the booming online retail industry in India.

Binny Bansal will now directly oversee the commerce and advertising platforms.

In January, Flipkart announced major changes in its top management: Binny Bansal took over as CEO, replacing co-founder Sachin Bansal, who became Executive Chairman. — PTI