Walmart-owned Flipkart CEO Quits Amid Misconduct Probe

Faizan Hashmi Published November 13, 2018 | 10:40 PM

The chief executive and co-founder of Indian e-commerce giant Flipkart, majority owned by US group Walmart, quit on Tuesday following an investigation into "serious personal misconduct".

Mumbai, (UrduPoint / Pakistan Point News - 13th Nov, 2018 ) :The chief executive and co-founder of Indian e-commerce giant Flipkart, majority owned by US group Walmart, quit on Tuesday following an investigation into "serious personal misconduct".

A joint statement from the two companies said that Binny Bansal denied the unspecified allegations and that the independent probe "did not find evidence to corroborate the complainant's assertions".

"(But) it did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation," the statement said.

"Binny has been an important part of Flipkart since co-founding the company, but recent events risked becoming a distraction and Binny has made a decision to step down," it said.