Flipkart Group CEO Binny Bansal resigns after probe into misconduct charges

13 November, 2018, 19:45 | Author: Regina Silva
  • Binny Bansal leaves Flipkart after personal misconduct probe

Two people familiar with the matter said the accusations around Mr Bansal are alleged to involved sexual assault.

Flipkart group CEO Binny Bansal resigned from the company on Tuesday, the e-commerce company and its parent Walmart said in a joint statement.

"The allegations left me stunned and I strongly deny them". 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.

Bansal has strongly denied the allegation, according to a separate statement by Flipkart and its main shareholder Walmart.

The inquiry did not find evidence to back up the allegation, but did "reveal other lapses in judgement". "We remain committed to investing for the long-term and are supportive of the leadership team's desire to evolve into a publicly-traded company in the future", the Walmart statement added. But Walmart expressed confidence in the leadership structure and says the transition was in the works for some time.

Several months after Walmart bought Flipkart, the group CEO at the e-retail firm is leaving with immediate effect. Sachin left the company following its $16-billion acquisition by United States retail behemoth Walmart in May. He had been appointed group CEO in January past year and had previously held the roles of chief executive officer and chief operating officer.

Manchester United have fallen behind Manchester City Nicky Butt
And yet Mourinho is under intense scrutiny with United now sitting eighth, four points behind fourth placed Arsenal and 12 points behind leaders Manchester City .


Awful: Cops shoot armed security guard who stopped bar shooting
Roberson was planning to take the police exam in pursuit of his dream of becoming a Chicago Police officer, according to WGN . Officers from Robbins, Illinois, and the nearby village of Midlothian were responding to reports of shots fired after 4 a.m.


Macron vilifies nationalism at ceremony with world leaders
The 40-year-old called on countries to join hands to fight challenges such as climate change, poverty, starvation and inequality. Trump was joined by USA military leaders in the visit to the cemetery, where 1,500 US service members are buried.


In the first half of 2018, when Walmart paid an eye-catchy $16 billion for a huge 77% stake in Flipkart, there were speculations that the "Unrelated Bansal Brothers" would be richer than Narayana Murthy, Nandan Nilekani, Krish Gopalakrishnan.

Kalyan Krishnamurthy, chief executive of Flipkart, will continue in his role and assume new responsibilities in overseeing Myntra and Jabong, online fashion retailers owned by Flipkart.

The next CEO, Kalyan Krishnamurthy, however has been reported to be a change-maker, ever since Sachin Bansal's big transformation exercise flopped in 2015. He reportedly told the business daily that he was leaving because even though allegations against him were turned out to be false, he could not continue to be the Group CEO after such charges were leveled against him.

His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct. Ananth Narayanan will continue providing great leadership as CEO of Myntra and Jabong.

Kalyan Krishnamurthy takes over as chief executive.

Recommended:

  • The royal fab four reunite for Remembrance Day service

    The royal fab four reunite for Remembrance Day service

    To accessorize, the Duchess of Sussex opted for a simple black clutch with gold chain detailing and classic pumps (also black). This year marks the 100th anniversary of the end of World War I, which lasted from July 28, 1914, to November 11, 1918.
    Chris Evans, Hugh Jackman, more mourn the passing of Stan Lee

    Chris Evans, Hugh Jackman, more mourn the passing of Stan Lee

    "No one has had more of an impact on my career and everything we do at Marvel Studios than Stan Lee ", Feige tweeted . His infectious enthusiasm reminded us why we all fell in love with these stories in the first place".
    Trump calls for proper forest management to combat California's wildfires

    Trump calls for proper forest management to combat California's wildfires

    By Saturday, the death toll in and around the destroyed town of Paradise had reached 23, but it seemed likely to climb. Officials are expected to provide the next update on the fire at a news conference at 9:30 a.m.
  • 'Chilling Adventures Of Sabrina' Teases Witchy Spin On Holiday Special

    'Chilling Adventures Of Sabrina' Teases Witchy Spin On Holiday Special

    All cast members, including Kiernan Shipka ( Sabrina ), Miranda Otto (Zelda), and Lucy Davis (Hilda), will return for the special. Let us know in the comment section! Watch the teaser for " It's Beginning to Look a Lot Like Netflix " below, or here.
    Democrat Kyrsten Sinema widens lead further in Arizona Senate race

    Democrat Kyrsten Sinema widens lead further in Arizona Senate race

    McSally argued that she would protect patients, despite her vote on the bill that would have removed many of those protections. McSally's attacks on Sinema reached back more than 15 years to when Sinema was a Green Party spokeswoman and liberal activist.

    Miley Cyrus 'Completely Devastated' After Losing Home In California Wildfires

    But on Sunday a Cal Fire unit chief warned that "it's not over yet". "Because I know the toll it takes on loved ones", Honea said. A series of wildfires in Northern California's wine country last fall killed 44 people and destroyed more than 5,000 homes.
  • Hamas Missile Barrage Strikes Israel | Homeland Security

    Hamas Missile Barrage Strikes Israel | Homeland Security

    Following Sunday's raid, thousands in Gaza called for revenge for the death of Nur Barakah, a mid-level Hamas commander. In Israel, at least 10 people were injured in the rocket attacks, the news service reports , citing medical officials.
    Jaden Smith calls Tyler, the Creator his boyfriend: 'I love him'

    Jaden Smith calls Tyler, the Creator his boyfriend: 'I love him'

    Jaden has said in the past that he considers himself 'gender fluid, ' but he has never opening discussed his sexuality before. But hours later Tyler responded with the comment "hahaha you a insane n**** man" but not confirming nor denying the claims.
    Dozens of cat mummies, rare beetles discovered in Egyptian tombs

    Dozens of cat mummies, rare beetles discovered in Egyptian tombs

    It was part of an effort, they said, to draw visitors back to Egypt after tourism nose-dived following the Arab Spring. The Egyptian government officials and ambassadors came in to take a look at the newly discovered tombs and artefacts.
  • UN nuclear watchdog: Iran remains within 2015 deal limits

    UN nuclear watchdog: Iran remains within 2015 deal limits

    A first round of American sanctions took effect in August, and the second round on November 4. India's government is analysing the details of exemptions granted by the U.S.
    Amazon Picking Long Island City & Northern Virginia For Split HQ2

    Amazon Picking Long Island City & Northern Virginia For Split HQ2

    Amazon's decision will likely lead to more foreign visitors, fuel more global flights and potentially stimulate more exports. Amazon has faced criticism for the impact it has had on Seattle, the locations of its original headquarters.
    Grim search for more fire victims, 31 dead across California

    Grim search for more fire victims, 31 dead across California

    The death total equals the 1933 Griffith Park disaster in California , which is the deadliest fire on record for the state. With 29 people confirmed dead and 228 still unaccounted for, the Camp Fire death toll is likely to climb, officials said.


Popular

Czech Republic beat US to win Fed Cup
The Czech bullet train just could not be stopped as they seem on course for a fourth title in the past five years. It's disappointing for me 'cause I had like two match points but couldn't turn things around.

Now even the French Army is rinsing Trump about cemetery no-show
Also known as the Belleau Wood cemetery, the site is home to the graves of 2,289 American war dead and 1,060 names of the missing. More than 2,000 United States troops are buried at Aisne-Marne American Cemetery, where Trump was meant to visit on Saturday.

Brexit deal possible in next 24-48 hours, May's deputy says
Johnson backed his brother Jo's resignation from the Government and attacked the Prime Minister's Brexit proposals as "shameful". Former culture secretary John Whittingdale said Mrs May would have to go if she could not get a Brexit deal through the Commons.

DRC ministry says Ebola outbreak worst in nation's history
The current outbreak of Ebola, which began in July, is the 10th to hit the country since 1976. "This epidemic remains unsafe and unpredictable, and we must not let our guard down".

Buffalo Bills Release QB Nathan Peterman
When Allen injured his elbow during an October 14 game at Houston, Peterman replaced him and threw the go-ahead touchdown pass. Prior to being released, Bills fans had actually set up a retirement fund to rid themselves of the former fifth-round pick .

More heavy rain for Tuesday
Behind this front on Tuesday , more lake effect snow is likely with the best chance of significant accumulation west of US-131. We'll keep an eye on this event, as this particular model may be going a little on the low side with forecast amounts.

White House defends Trump's cemetery no-show
Some former US officials suggested Trump could have visited the cemetery if he really desired. "There is always a rain option". More than 2,000 USA troops are buried at Aisne-Marne American Cemetery, where Trump was meant to visit on Saturday.

Baraboo School District investigating boys' apparent Nazi salute
The Auschwitz Memorial tweeted that the photo is why it works hard "to explain what is the danger of hateful ideology rising". He concluded: "I truly and firmly believe we need to make a change to this frightful act, it needs to stop".

Republican Senate frontrunner files new lawsuits as recounts begin in Florida
Multiply that by 67 counties in the nation's third-most populous state, and the scope of the task was beginning to sink in Sunday. Sunday with officials recalibrating the machines that count the votes and performing a series of logic and accuracy tests.

Chelsea drop points as Everton earn draw at the Bridge
The draw left Chelsea trailing Premier League leaders City by four points despite the fact that they remain unbeaten after 12 games.