Tuesday , July 27 2021

Walmart's CEO, Flipkart's CEO, resigned after water misconduct probe



The CEO of Indian e-commerce company Flipkart, Binny Bansal, is based in the company's headquarters in Bengaluru on July 7, 2017.

ABHISHEK CHINNAPPA / Reuters

Walmart's chief executive and co-founder of the Flipkart Group Flipkart Group, Walmart, said Walmart Inc resulted in a serious misconduct on Tuesday's regulatory filing.

Bansal strongly rejected the allegations, the company made a statement. The comments of Bansal and his representatives could not be reached.

The company also made other decisions, such as a lack of transparency, about how Binny reacted to the situation, although the investigation had not found any evidence to support the claims of the complainant against Binny.

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"Therefore, we accepted the decision to resign."

Kalyan Krishnamurthy, who headed the company's main Flipkart e-commerce operation, said the company would act as its chief executive for a larger group of companies, such as Myntra and Jabong.

Earlier this year, Walmart agreed to pay $ 16 billion for about 77 per cent of the Indian e-commerce company, Amazon's main competitor, for 1.3 billion consumers of India.

It was the biggest deal of the US retailer and was a big move in Amazon's efforts to counter both domestic and international.


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