Wal-Mart will take over Flipkart very soon. The sources, aware of the matter, told that Sachin has made a mind to completely leave Flipkart. Wal-Mart is investing $ 2 billion with $ 2 billion investment in India's largest e-commerce company for 60 percent of its current stake in the company for about $ 14 billion. Flipkart has stocks of SoftBank that are 20.8 percent, 6.1 percent of eBay and Sachin Bansal owns 5.55 percent of it.
Flipkart co-founder Binny Bansal may be the new Chairman and Group CEO. This information is given by another source. At present, Flipkart CEO Kalyan Krishnamurthy is and he will remain in this role. One of the sources mentioned above said, "Walmart can appoint three directors and chief financial officers on the 10-member board of the Indian company."
Sources say that Sachin does not agree with Walmart's proposed strategy and operating structure after the deal is over. When contacted, Sachin Bansal said nothing about the reasons for leaving Flipkart. Sachin and Binny founded Flipkart in 2007 as an online bookstore. Sachin was the CEO of Flipkart for nine years. Then in January 2016, he became the chairman of the company and Binny took over as the CEO. Since then, Sachin has been away from the company's daily operations.
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