India

Flipkart CEO Binny Bansal quits after ‘misconduct’ allegations

27-year-old Binny Bansal resigned as CEO of Flipkart group on Tuesday with immediate effect, after an investigation was conducted by both Flipkart and its parent firm, Walmart, into an allegation of “serious personal misconduct.”

In a press statement on Tuesday, Walmart Inc said “While the 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.”

However, Bansal has strongly denied the allegations.

Kalyan Krishnamurthy will continue to be CEO of Flipkart, which will now include Myntra and Jabong, continuing to operate as separate platforms within the Flipkart business.

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