Filpkart CEO Binny Bansal resigns over 'serious personal misconduct,' investigation underway

Flipkart CEO Binny Bansal has resigned over ‘serious personal misconduct’ and the investigation in the case are underway.

The Walmart issued a statement in the case and had said that Binny has resigned over the misconduct charges and will be out of the service until the investigations get completed.

The Walmart issued a statement and said, “His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct.”

The company added, “He strongly denies the allegation. Nevertheless, we had a responsibility to ensure the investigation was deliberate and thorough.”

Walmart added that while the investigation in the case pertaining to Binny Bansal is underway, “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.”

Kalyan Krishnamurthy will continue to be the CEO of the Flipkart. The other e-shopping websites Myntra and Jabong, which were owned by the Flipkart, and the CEO of both the companies Ananth Narayanan, will be the ceo and will report to Kalyan, the Walmart reported.

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