The CEO of the Indian e-commerce giant that Walmart bought a $16 billion stake in has resigned amid an allegation of personal misconduct (WMT)

Binny BansalAP

  • Flipkart Group CEO Binny Bansal has resigned following an allegation of “serious personal misconduct,” according to a press release.
  • The release did not elaborate on the allegation but said Bansal “strongly denies” it.
  • An independent study did not corroborate the allegation but found Bansal made lapses in judgment, according to the release.
  • In May, Walmart agreed to buy a 77% stake in Flipkart for $ 16 billion.

Flipkart Group CEO Binny Bansal has announced his resignation, effective immediately, following an independent investigation into an “allegation of serious personal misconduct,” Walmart said in a press release out Tuesday morning.

The release did not elaborate on the allegation but said Bansal “strongly denies” it.

See the rest of the story at Business Insider

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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