Business

Flipkart CEO Binny Bansal Resigns After Misconduct Probe

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Binny Bansal resigns over “lapses in judgement” expressed while dealing with an allegation of “serious personal misconduct”.

“In late July an allegation came to us about a claim of sexual assault against Binny,” a person familiar with the matter said.

Binny has been an important part of Flipkart since co-founding the company, but recent events risked becoming a distraction, he has made a decision to step down.

Bansal to leave the company with immediate effect. Less than six months after WalmartInc acquired majority ownership in the web retailer

Walmart, which acquired a majority stake in Flipkart for $16 billion in Aug, told the US SEC on Tuesday that the Indian e-commerce majors co-founder and CEO Binny Bansal has resigned over misconduct allegations. Bin has been an important part of Flipkart since co-founding the company

Walmart statement on Bansal

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Kalyan Krishnamurthy to remain Flipkart CEO, with Myntra and Jabong CEO Ananth Narayanan reporting to him.

But, allegation against Bansal made in end of July, post which investigation launched. Walmart- Flipkart Deal closed Aug 17th. Bansal continued to lead, no disclosure made about investigation. Bansal not asked to go on leave either. So, do you think it’s Odd?

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