Info Edge CEO Hitesh Oberoi to step down after 27 years, Sanjeev Bikhchandani to take over

Info Edge co-founder Sanjeev Bikhchandani will take over as executive vice chairman, managing director and group CEO from December 3. His appointment will run until April 26, 2031, co-terminus with his existing term as a director, and is also subject to shareholder approval. Oberoi’s decision follows what the company described as careful consideration. He plans to devote more time to his interests in education, entrepreneurship, institution building, investing and philanthropy, as well as spend more time with his family.

The board acknowledged Oberoi’s contribution to Info Edge over nearly three decades, crediting him with helping build and strengthen the company’s businesses and leadership team. The leadership change comes as Info Edge continues to operate a portfolio of internet businesses spanning recruitment, real estate, matrimony and education through brands including Naukri, 99acres, Jeevansathi and Shiksha.

“Hitesh and I have built Info Edge together for more than 27 years. He has been an extraordinary partner and much of what Info Edge is today reflects his leadership, judgement and the exceptional team he has built. I shall dearly miss Hitesh - a comrade in arms, a torchbearer for the Company and the Internet industry, a close friend and colleague, an exceptional business leader, an Amitabh Bachchan fan, a superb raconteur with a large pitara of stories and, above all, a wicked sense of humour," said Sanjeev Bikhchandani, Founder and Vice Chairman of Info Edge.

The board approved the appointments at a meeting held on October 28, which began at 10:30 am and concluded at 1:45 pm, according to the filing. "In the next phase of my life, I now want to make more time for higher education, entrepreneurship, investing and my family. I will miss working with the many colleagues and teams who have made these 27 years so special. I therefore feel this is the right time for me to step back.

Subject to shareholder approval, I will be happy to continue to serve on the Board as a Non-Executive Director, and I will remain available to help whenever needed," Oberoi said.