Binny Bansal: After Flipkart, Binny Bansal steps down from PhonePe board

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Flipkart founder Binny Bansal has stepped down from the board of PhonePe, the company announced. This follows Bansal’s departure from the Flipkart board in January, after he established his new venture, OppDoor.

Bansal played a pivotal role in Flipkart’s acquisition of PhonePe in 2016 and has worked closely with PhonePe founder Sameer Nigam since then, including after the payments firm’s separation from Flipkart. Teamlease founder Manish Sabharwal has now been appointed as an independent director and chair of PhonePe’s audit committee, the company said.

Also Read: Binny Bansal eyes big game again post Flipkart exit

“I would like to express my heartfelt gratitude to Binny Bansal for being one of PhonePe’s earliest and staunchest supporters. His active engagement, strategic guidance, and personal mentorship have profoundly enriched our discussions. Binny will be missed,” said Sameer Nigam, founder of PhonePe.

“We are also thrilled to welcome Manish Sabharwal to the PhonePe board. His incredible understanding of India’s macro economy, coupled with his leadership in shaping policies for education, employment, and employability, will be invaluable as PhonePe continues to work towards our shared vision of a Viksit Bharat by 2047,” Nigam added.

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