said Tuesday that the CEO of Flipkart Group, the Indian e-commerce sector, has resigned after an independent investigation of alleged personnel irregularities.
Binny Bansal, co-founder of Flipkart, took the decision to go down after “new events risked a distraction,” the company said.
The investigation did not find evidence to confirm complaints against him, but it revealed Other bad judgment demands, especially in how Bansal handled the situation, the company said.
Mr. Binsal has strongly denied the assertion, Walmart said, adding that Mr Binsal has thought about leaving the role for some time.
Kalyan Krishnamurthy, who has led the Flip Map unit since 2017, will now supervise the two online model companies Myntra and Jabong. Ananth Narayanan, CEO of Myntra and Jabong, will report to him.
Walmart bought a 77% stake in $ 16 billion Flipchart earlier this year, the largest acquisition ever, which makes the company a cornerstone of Walmart’s plans to recreate its international portfolio.
Write to Kimberly Chin at [email protected]