India, Oct. 3 -- Digital content and ecommerce marketplace Rediff.com has appointed Infibeam Avenues founder Vishal Mehta as its new chairman and managing director.

In his new role, Mehta will drive growth in consumer-facing digital payments and financial services at Rediff.

The company's board of directors made the decision on Tuesday (October 2). Mehta will be succeeding Ajit Balakrishnan, who has led the company since inception in 1996.

This leadership transition comes after Infibeam Avenues Ltd acquired a majority stake in Rediff.com. Mehta will continue in his role as chairman and managing director of Infibeam Avenues alongside his new responsibilities at Rediff.com.

Balakrishnan said, "I am confident that the best is yet to come...