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
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?