Home EDITORIAL Binny Bansal To Remain On Flipkart Board

Binny Bansal To Remain On Flipkart Board

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Picture Credit: Yourstory.com
Picture Credit: Yourstory.com

After resigning on Monday, Binny Bansal in an email to his employees stated that he will continue to be on the Flipkart board as one of the largest shareholders.

He quit as Flipkart Group Chief Executive Officer (CEO) after an inquest into an alleged serious personal misconduct.

Binny penned that these have been challenging times for him and his family n due course denying all the subsequent allegations.

Nevertheless, the Flipkart co-founder did not intricate on the complexion of the charge made against him or the alleged dereliction on his part.

“His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct,” as stated by Walmart Inc which holds a majority stake in Flipkart.

“Nevertheless, we had a responsibility to ensure the investigation was deliberate and thorough,” as reported by the US-based retail behemoth, which acquired the homegrown e-commerce giant in March for $16 billion.

The statement added, “While the investigation did not find evidence to corroborate the complainant’s assertions against Binny, it did reveal other lapses in judgment, particularly a lack of transparency, related to how Binny responded to the situation. Because of this, we have accepted his decision to resign.”

Walmart said Binny has been scrutinizing a metamorphosis for some time and that they were working cooperatively on a concatenation plan, which has now been advanced.

Meanwhile, after the revelation resignation of Binny Bansal, Kalyan Krishnamurthy would now handle the group business of Flipkart. He currently heads Flipkart’s e-commerce platforms.

picture credit: yourstory.com

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