Binny Bansal resigns as Flipkart group CEO


Binny Bansal has resigned from Flipkart group as its Chief Executive Officer following the allegations on personal misconduct. Bansal has been an important part of Flipkart as its co-founder but due to the recent disturbances within the company, he decided to call it a quits, said a report.

FlipkartReportedly, his decision is followed by an independent investigation conducted on behalf of Flipkart and Walmart into an allegation of serious personal misconduct.

“His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct. He strongly denies the allegation. Nevertheless, we had a responsibility to ensure the investigation was deliberate and thorough. 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. Because of this, we have accepted his decision to resign,” said the report.

Sources reveal that Binny had been considering a change. Post his exit, Kalyan Krishnamurthy will continue to be CEO of Flipkart, which will now include Myntra and Jabong.

Ananth Narayanan will continue to be the CEO of Myntra and Jabong, and will report into Kalyan. Sameer Nigam will also continue to head PhonePe as CEO. Both Kalyan and Sameer will report directly into the board.

“As we look ahead, we have full confidence in the strength and depth of leadership across the company. We remain committed to investing for the long-term and are supportive of the leadership team’s desire to evolve into a publicly-traded company in the future,” said an official communiqué from the company.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.