Info Edge founder Sanjeev Bikhchandani to return as CEO as Hitesh Oberoi steps down

The leadership transition comes as its current Managing Director and CEO Hitesh Oberoi is stepping down after more than 16 years at the helm. 

Oberoi will continue his association with Info Edge as a non-executive, non-independent director from December 3, subject to shareholder approval. He said he had decided to step back from his full-time operating role to devote more time to higher education, entrepreneurship, institution building, investing and philanthropy, as well as spend more time with his family.

Oberoi's tenure as CEO has seen Info Edge expand its portfolio of internet businesses and strengthen its position in India's consumer internet market.

According to the company, its market capitalisation grew from around Rs 2,500 crore to around Rs 80,000 crore during Oberoi's 16 years as CEO.

Bikhchandani said he and Oberoi had built Info Edge together over more than 27 years, adding that much of what the company had become reflected Oberoi's leadership and judgement.

Bikhchandani founded Info Edge in 1995 and led it through its early years and its initial public offering (IPO) in November 2006. He stepped down as CEO in July 2010, when Oberoi took over as Managing Director and CEO.

Kapil Kapoor, chairman of Info Edge, noted that Bikhchandani brings a deep understanding of Info Edge’s businesses, culture and values, together with a strong entrepreneurial orientation and a long-term perspective on value creation.

"We are confident that his experience, energy and long-term perspective will be valuable as Info Edge enters its next phase of growth and continues to build businesses and investments that can create significant long term value," said Kapoor.

The leadership transition comes as Info Edge continues to build on its established internet businesses while expanding newer platforms and investing in India's startup ecosystem.