11/01/2016 2:29 PM IST | Updated 15/07/2016 8:25 AM IST

Flipkart, India's Biggest E-Commerce Website, Names Binny Bansal As Its New CEO

NOAH SEELAM via Getty Images
Chief Operating Officer and Co-Founder of Flipkart, Binny Bansal speaks during the launch of Flipkart's Largest Fulfillment Centre on the outskirts of Hyderabad on October 30, 2015. Flipkart is India's leading e-commerce marketplace offering over 30 million products across 70 plus categories including Books, Media, consumer Electronics and Lifestyle. AFP PHOTO / NOAH SEELAM (Photo credit should read NOAH SEELAM/AFP/Getty Images)

MUMBAI -- India's biggest e-commerce company Flipkart said on Monday its Chief Executive and co-founder Sachin Bansal will step down and be succeeded by its other co-founder, Binny Bansal.

Binny, who was the chief operating officer before the rejig, launched Flipkart in 2007 along with Sachin, (they are not related) who will now take the role of executive chairman.

The management changes come amid talks that the company is preparing for an IPO in the United States - in what is expected to be one of the biggest listings by an Indian company abroad.

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