Flipkart Chief Executive Officer Binny Bansal Resigns

Guwahati: The Chief Executive Officer and also the co-founder of Walmart-owned Flipkart, Indian e-commerce firm, Binny Bansal has announced his resignation on Tuesday to be effective immediately. The resignation of the CEO is announced by Walmart Inc in a regulatory filing today.

The Walmart statement says, "His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct." The statement also adds that Bansal has strongly denied the allegations.

Walmart bought a roughly 77 per cent stake in the Indian e-commerce firm in May.

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