- 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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