FLIPKART CO-FOUNDER BINNY BANSAL RESIGNED AS CEO

Flipkart Group CEO Binny Bansal has cession succeeding an independent investigation into an evidence of significant personal evil’on 13 November, 2018 announced by its parent company Walmart Inc. He coupled with Sachin Bansal had co-founded India’s biggest online retailer Flipkart, “fiercely contradicted the declaration”, Walmart disclosed. He resigned as the CEO of Flipkart Group with an instant consequence.

Although Walmart did not designate the specific description of the charges against Bansal but leading member’s informed that the issue is associated to a complaint from a female colleague a few months ago

He has been an influential part of Flipkart since co-founding the company, but current news distracted him and forced him to resign from his position

According to the source, the grumbles had been created even before Walmart had grabbed Flipkart. After the ownership, issue is been announced to Walmart which then framework an inspection. Kalyan Krishnamurthy will sustain to be the CEO of Flipkart, which will now incorporate Myntra and Jabong. Both will be operate as unrelated platforms within the Flipkart business.

Ananth Narayanan will endure CEO of Myntra and Jabong and will detail an outline to Krishnamurthy.

Walmart, in May this year, obtained a predominance stake in Bangalore-headquartered Flipkart in a $16-billion deal, indicating the US retailer’s largest-ever settlement

In a sad note Sachin Bansal wrote that his efforts are ended here after 10 years. Now time has arrived to hand over the baton and move on from Flipkart.