MISCONDUCT CHARGES: BINNY BANSAL QUITS AS FLIPKART CEO
: Flipkart Group CEO and co-founder Binny Bansal resigned on Tuesday following a probe into an alleged “serious personal misconduct”, the firm’s new parent, US retail chain Walmart said.
Bansal, 37, has strongly denied the allegation, the American retail giant added in a statement.
His decision to step down follows an independent investigation done on behalf of Flipkart and Walmart, even though the probe “did not find evidence to corroborate the complainant’s assertions against Binny”, it said.
While the statement did not provide details of the “personal misconduct” allegations against Bansal, sources indicated that the complainant was associated with Flipkart a few years ago and is now running her own venture.
This, however, could not be independently ascertained.
The statement pointed out that the “deliberate and thorough” investigation “did reveal other lapses in judgement, particularly a lack of transparency, related to how Bansal responded to the situation. “Because of this, we have accepted his decision to resign”, it said.
Bansal’s resignation is with immediate effect. He was serving as the Group
CEO after Walmart’s mega $16 billion investment in the Bengaluru-based company.
NEW DELHI