Naukri parent Info Edge founder Sanjeev Bikhchandani to return as CEO as Hitesh Oberoi steps down
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Info Edge (India) Ltd, the parent company of Naukri.com, is set for a leadership transition, with founder Sanjeev Bikhchandani taking over as managing director and group chief executive officer after Hitesh Oberoi steps down from his full-time operating role in December.
Oberoi will relinquish his positions as managing director and CEO at the close of business on December 2, 2026, after nearly 27 years with the company, including more than 16 years as CEO. He will continue his association with Info Edge as a non-executive, non-independent director from December 3, subject to shareholder approval.
Bikhchandani, currently founder and vice chairman, will assume the roles of executive vice chairman, managing director and group CEO from December 3, also subject to shareholder approval. His appointment will run until April 26, 2031, in line with his existing term approved by shareholders.
Why Hitesh Oberoi is stepping down
In his resignation letter dated October 27, Oberoi said he had taken the decision after careful consideration and believed it was the right time to step back from his full-time operating role.
“Info Edge has been a defining part of my life, and I feel enormous gratitude and pride when I look back at what we have built together,” he said.
Oberoi said he wanted to devote more time to higher education, entrepreneurship, investing, philanthropy and his family. He added that he would remain available to advise the company in his board role.
He also said Info Edge had developed a strong leadership team capable of taking on greater responsibility, allowing the company to move into its next phase.
Naukri, 99acres and other businesses
In his letter, Oberoi highlighted the progress made across Info Edge's businesses ahead of his transition.
Naukri.com, the company's flagship recruitment platform, has developed an artificial intelligence and data strategy to support its next phase of growth, he said. Property portal 99acres has strengthened its market position and become a cash-generating business, while Jeevansathi and Aisle have become profitable.
Oberoi also said Jobhai had established a monetisation engine and laid the foundation for a larger business.
“If there is one thing I am most proud of, it is the quality of the team we have built at Info Edge,” he said, pointing to the experience of senior executives and the readiness of younger leaders to take on greater responsibilities.
Info Edge's market cap grew to ₹80,000 crore
Info Edge chairman Kapil Kapoor credited Oberoi's focus on execution and strategic direction through competitive and economic cycles for the company's growth.
According to the company's press release, Info Edge's market capitalisation increased from approximately ₹2,500 crore to around ₹80,000 crore during Oberoi's 16 years as CEO.
Bikhchandani said he and Oberoi had worked together for more than 27 years to build the company.
“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,” he said.
Bikhchandani added that Oberoi would continue to be available for advice and consultation after moving out of his full-time operating role.
Info Edge's businesses and startup investments
Info Edge has expanded beyond its recruitment business into property listings, matrimony, education and blue-collar hiring through platforms including Naukri, 99acres, Jeevansathi, Shiksha and Jobhai.
The company has also used cash generated by its operating businesses to invest in India's startup ecosystem, with several investments growing into independently listed companies.
Oberoi said the cash-generating nature of Info Edge's businesses had allowed it to become an important investor in and supporter of Indian startups.
Shares of Info Edge (India) Ltd ended 2.16% lower at ₹1,190 apiece on the NSE on Wednesday. The stock has declined over 14% in the past year, underperforming the Nifty Midcap 50 index, which has fallen nearly 3% over the same period.