In a major top management rejig at Flipkart, Binny Bansal will be the new CEO in place of his co-founder Sachin Bansal, who would become Executive Chairman of India’s biggest e-commerce company. Binny till now was the Chief Operating Officer (COO). Sachin along with Binny launched Flipkart in 2007. Sachin will provide strategic direction for Flipkart, mentor the senior leadership and look for new investment opportunities.

Binny as the Chief Executive Officer will now be responsible for operationally driving the company and be accountable for Flipkart’s overall performance. All the business areas – Commerce, Ekart and Myntra will now report to Binny. All corporate functions including human resources, finance, legal, corporate communications and corporate development will also report to Binny.

The management change comes amid talks of Flipkart, which is valued at around USD 15 billion, preparing for an IPO in the United States. Binny Bansal, as the COO, was till now responsible for overseeing the company’s critical supply chain and logistics business.

Additionally, the Bengaluru-based company also announced that Mukesh Bansal will continue to lead the company’s commerce platform, its core business, but will also take additional charge of Flipkart’s burgeoning ads business. He will also continue his role as the Chairman of Myntra, the online fashion retail business acquired by Flipkart for a reported USD 370 million, in 2014.