Head Of Flipkart Group Resigns In Wake Of Misconduct Probe

The CEO of Flipkart Group, Binny Bansal, has resigned following a probe into “serious personal misconduct.” The move could disrupt Walmart’s effort to compete with Amazon in the growing Indian retail market.

Kalyan Krishnamurthy will continue to be CEO of Flipkart, which will now include Myntra, an e-Commerce fashion company, and Jabong, a fashion and lifestyle portal, as independent sites operating under the retailer’s umbrella. Ananth Narayanan will remain CEO of Myntra and Jabong, reporting directly to Krishnamurthy.

The decision followed an independent investigation performed on behalf of Flipkart and Walmart. Bansal strongly denies the…