Flipkart's Punit Soni on his way out?

There has been a buzz around how ex-Googler Punit Soni, who joined Flipkart as the Chief product Officer, is on his way out. A new Times of India report now points out that after the recent top management rejig the rumours and speculations over his exit have amplified. Recently, Sachin Bansal stepped down as the CEO, vacating the position for Binny Bansal. This has left Soni in a ’not-so-defined’ role according to the report. However, there is no confirmation whether he plans to leave or not. Some of our sources said that he could be contemplating the move and still in talks with the management over his position at Flipkart. The TOI report adds that Soni is being paid $1 million annually as fixed salary and played a vital role at making Flipkart and Myntra app-only.  Flipkart is considered to be the pioneer for e-commerce in India and competes in the space with biggies like Amazon. The management changes come amid talks of the company preparing for an initial public offering (IPO) in the United States, with the potential to become one of the biggest listings by an Indian company abroad. In another report , Flipkart co-founder Sachin Bansal says Indian markets not ready for big internet IPOs. “Indian markets are not yet ready for a large Internet company listing but we would absolutely love to list here when the time comes,” he said.