Binny Bansal is also on the board of digital payments company PhonePe.

Binny Bansal, co-founder of Flipkart, has officially resigned from the board of the e-commerce giant, drawing to a close the chapter he started alongside Sachin Bansal 16 years ago. This move follows Mr Bansal’s recent sale of his remaining stake in Flipkart. 

In a statement, he said, “I am proud of the Flipkart Group’s achievements over the past 16 years. Flipkart is in a robust position, with a strong leadership team and a clear path forward, and 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,” he added.

Here are five facts about Binny Bansal:

• Binny Bansal is originally from Chandigarh and attended St. Anne’s Convent School in the city. He pursued software programming at IIT Delhi, ultimately graduating with a degree in computer science and engineering.
• After college, he worked at Sarnoff Corporation and joined Amazon as a software engineer in January 2007, where he worked for 9 months. He eventually left Amazon to co-found Flipkart.
• Binny Bansal held key positions at Flipkart. He started as the Chief Operating Officer, later becoming the Chief Executive Officer in 2016 and then the Group CEO in January 2017. 
• Known for his investments in startups, Mr Bansal is also on the board of digital payments company PhonePe.
• Binny Bansal is one of India’s youngest billionaires and his current net worth is $1.4 billion (Rs 11,637 crore)