On Tuesday, Flipkart’s founder and group CEO Binny Bansal has resigned from the company.
The e-commerce company and its parent Walmart accepted Bansal’s resignation. The joint statement from the company noted that “His decision follows an independent investigation done on behalf of the Flipkart and Walmart into an allegation of serious personal misconduct.He strongly denies the allegation.”
Earlier, US-based Walmart achieved a majority support in Bengaluru-headquartered Flipkart in a $16-billion deal. Also the statement noted that “Binny has been an important part of Flipkart since co-founding the company,but recent events risked becoming a distraction and Binny has made a decision to step down,”
The statement was released on its portal which says “While investigation did not find evidence to corroborate the complainant’s assertions against Binny,It did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation,”
The statement added that Kalyan Krishnamurthy will continue to be CEO of Flipkart which includes Myntra and Jabong as separate platforms within Flipkart.