Info Edge CEO Change: Bikhchandani Returns as Oberoi Steps Down

A founder returns as his partner of 27 years steps back

Info Edge (India) Ltd, the company behind Naukri.com, is changing who runs it day to day. Founder Sanjeev Bikhchandani will return to an executive role as managing director and group chief executive officer. Hitesh Oberoi is giving up the top operating job after almost 27 years with the company.1 Oberoi will stop serving as MD and CEO at the close of business on December 2, according to a stock exchange filing on Wednesday, October 28.1 Bikhchandani, now founder and vice chairman, takes over from December 3 under a three-part title: executive vice chairman, managing director and group CEO. Shareholders still have to approve the appointment.111

The change matters partly because the roles are flipping. In most Indian startups, the founder steps aside and a professional manager takes over. Here a long-serving CEO is leaving operations and the founder is coming back to the controls. Oberoi is not leaving the company, though. He will remain on the board as a non-executive, non-independent director, also subject to shareholder approval.2

The mechanics of the board decision

The board approved the appointments at a meeting on October 28 that started at 10:30 am and finished at 1:45 pm, according to the filing.12 Bikhchandani's executive term runs until April 26, 2031, which matches his existing term as a director.12 Oberoi will join the board as an additional director in the promoter category, designated non-executive and non-independent, from December 3.13 He will be liable to retire by rotation.4 Keeping Oberoi in the promoter category is a reminder that he is a co-builder of the company and a significant stakeholder, not a hired manager on his way out.

The company announced its September-quarter results and an interim dividend of Rs 3 per share on the same day.10 The figures reported differ by outlet. NDTV Profit put revenue from operations at Rs 904 crore for Q2FY27, up 2.6% from the previous quarter, with EBITDA of Rs 354 crore and a margin of 39.2%.10 The Times of India's keyword metadata lists Q2 revenue of Rs 842 crore and operating profit of Rs 347 crore.2 Those two sets of numbers probably measure different things, such as standalone versus consolidated results or different revenue lines, so they should not be read as a contradiction. Either way, the business Oberoi is handing over is profitable and growing modestly. Standalone billings rose 12.8% year-on-year to Rs 822.3 crore.10

Why Oberoi says he is leaving

Oberoi's resignation letter is dated October 27. In it he says he had been weighing the decision for some time and that it had not been easy.2 He gave his reasons as wanting more time for higher education, entrepreneurship, investing, philanthropy and his family, while staying available to advise the company from the board.1 Some outlets also list institution building among his interests.512 He pushed back on any reading that he is cutting ties: he said he was not stepping away from Info Edge and remains invested in it both emotionally and financially.14

His main argument is that the company is ready. He listed what he sees as finished work across the portfolio:

• Naukri now has a defined AI and data strategy.
• 99acres has a stronger market position and generates cash.
• Jeevansathi and Aisle are profitable.
• Jobhai has built a way to make money.9

On the Q2 analyst call he said Naukri has a "crack team" and that Job Hai, 99acres and Jeevansathi have solid leadership. He said that bench gave him the confidence to move on.13

All the coverage reports Oberoi's reasons in roughly the same words. That is expected, because nearly every outlet worked from the same filing, press release and PTI copy. The real differences between reports lie in what they add on top of that shared material.

The record being handed over

The headline number is market value. Over Oberoi's 16 years as CEO, Info Edge's market capitalisation grew from about Rs 2,500 crore to roughly Rs 80,000 crore, according to the company's press release.8 Chairman Kapil Kapoor said Oberoi's focus on execution and his strategic direction through competitive and economic cycles were important drivers of that growth.9 Kapoor also said the company was well prepared for the transition.11

Bikhchandani's tribute went beyond the usual corporate language. He called Oberoi a comrade in arms, a close friend, an exceptional business leader, an Amitabh Bachchan fan and a storyteller with a wicked sense of humour.12 Business Today reported a detail from Naukri's early years: Oberoi made 60 to 70 sales calls a month alongside his team.14 That image of a hands-on CEO helps explain why the founder, rather than an outside hire, is replacing him.

The question nobody has answered: who comes after Bikhchandani?

The most revealing coverage comes from the analyst call, not the filing. Asked whether he would be a full-time CEO or whether this was part of a wider management transition, Bikhchandani said the top leadership structure had not been decided. He said he would spend his early period listening, observing and asking questions, and would rely on Oberoi's guidance.2 He also said no decision had been made on hiring more senior people. He acknowledged that, given his age, he cannot stay in the role indefinitely, and said the company would revisit the question once things stabilise.13

Those remarks change how the announcement should be read. The formal appointment runs to 20314, but the founder's own comments make it sound like a bridge, not a lasting succession plan. Our reading is that the board picked the safest option available. It avoided a rushed external search and avoided promoting an internal leader before anyone was clearly ready. Instead it put the person with the most institutional authority in charge while the next layer of management is assessed. That is a sensible way to protect continuity. It also means the real succession decision has been postponed, not made.

Another departure adds weight to that view. Pawan Goyal, whole-time director and chief business officer at Naukri, has also resigned after seven years to pursue other interests, according to an exchange filing reported by Mint.13 Most coverage barely mentioned this. Yet losing a senior Naukri executive at the same moment as the group CEO is significant. Naukri is the main profit engine, and Oberoi himself pointed to its AI strategy as a sign of readiness.9 Oberoi's message is that the bench is deep. Investors will now watch whether the people who remain can back that up.

An operator out, an investor-minded founder in

Several outlets note that Info Edge is now more than a set of classifieds websites. It uses cash from its operating businesses to invest in Indian startups, and some of those holdings have since listed independently.9 Rediff's analysis said Oberoi is stepping back from day-to-day management just as the company's job increasingly involves allocating capital across a broader investment portfolio.8 ScanX noted that Bikhchandani has played a leading role in shaping that portfolio.16 ScanX also asked whether Oberoi's shift to a non-executive role could affect the venture arm, given his past role in sourcing deals.16

That is where the coverage diverges in tone. Most reports present the move as a smooth, friendly handover with no change in strategy. Several state outright that no strategic or structural changes were announced.1 Market-focused outlets are more forward-looking. Rediff described the founder's return as bringing his entrepreneurial and long-term investment perspective "more directly" into executive leadership. Our reading is that both views are right, but the second matters more. A founder whose reputation rests heavily on capital allocation now holds full executive authority, while a CEO known for operational discipline moves to the board. Even with no announced strategy change, that shift in emphasis is likely to shape how the group splits its attention between mature platforms such as Naukri and 99acres and its newer bets.

Small discrepancies in the record

The reporting agrees on the important dates: Oberoi leaves on December 2, 2026, and Bikhchandani takes over on December 3, 2026.36 One version of the syndicated story on Rediff's business site lists those dates as 2024 in its summary bullets.9 That is clearly an error, because the body of the same article and every other outlet use the 2026 timeline. Descriptions of Bikhchandani also vary between "founder" and "co-founder"15, which reflects how the company's origins are usually described rather than any real dispute.

What to watch

The appointments still need shareholder approval, but given the founders' standing that looks like a formality. The more important signals will come over the next few quarters:

• whether Info Edge announces a new structure at the top, possibly with business-level CEOs or a designated successor
• how it replaces Goyal's role at Naukri
• whether the steady billings growth reported this quarter continues through the handover1013

Bikhchandani has framed his return as a time for listening. The board's job is to make sure that period leads to a lasting succession plan rather than simply delaying one.