New Delhi: Binny Bansal has quit as Flipkart Group Chief Executive Officer (CEO) after an investigation into an alleged “serious personal misconduct”, Walmart Inc said in a press statement on Tuesday.
“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,” said the US based retail benemoth, which acquired the homegrown e-commerce giant in March for $16 billion.
Kalyan Krishnamurthy will continue to be the CEO of Flipkart, which will now include Myntra and Jabong, the Walmart said.
Bansal’s resignation marks the exit of both of Flipkart’s co-founders – Sachin Bansal (unrelated) had sold his stake to Walmart earlier when the retailing giant bought Flipkart.
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Ms Kalinga