Flipkart CEO Binny Bansal resigns from Flipkart after reports of ‘serious personal misconduct’, resignation effective immediately.
Walmart issued a presser —
“His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct. He strongly denies the allegation. Nevertheless, we had a responsibility to ensure the investigation was deliberate and thorough. The investigation did not find evidence to corroborate the complainant’s assertions against Bansal, it did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation. Because of this, we have accepted his decision to resign.”
The statement didn’t give details of the allegations against Bansal.
Kalyan Krishnamurthy will continue as the CEO of Flipkart, which will now include Myntra and Jabong. Ananth Narayanan will continue as the CEO of Myntra and Jabong and will report to Krishnamurthy