Flipkart’s Executive Director, Binny Bansal, withdrew from his post, after accusations of “serious personal misconduct”. A statement by US retail giant Walmart, which now controls the online market, shed light on the decision.
“His decision follows an independent investigation conducted on behalf of Flipkart and Walmart on an allegation of serious personal misconduct, and he strongly denies the allegation, however, we had a responsibility to ensure that the investigation was deliberate and thorough. he did not find evidence to corroborate the plaintiff’s claims against Binny, he did reveal other judgments in the trial, in particular the lack of transparency, related to the way Binny responded to the situation, because of this, we have accepted his decision to resign. ” .
The Walmart press release reveals that although Binny denies the accusations, there is enough in his record to encourage his resignation.
Earlier this year, Sachin Bansal, the co-founder of Flipkart, abruptly resigned during negotiations to close an agreement with Walmart.
Kalyan Krishnamurthy will assume the position of CEO of Flipkart along with the supervision of Jabong and Myntra, the companies of the Flipkart group. Ananth Narayan will remain as CEO of Jabong and Myntra under the leadership of Krishnamurthy.