Walmart's Flip chart CEO goes down in the Wake of Writing statement
Flip chart CEO Binny Bansal during an interview in Bengaluru, India, in 2016.
Photo:
Namas Bhojani / Bloomberg News
Walmart
said Tuesday that the chief executive of Flipkart Group, the Indian e-commerce business, has made an independent investigation of alleged personal injury.
Binny Bansal, co-founder of Flipkart, made the decision to go down after "the last events are at risk of becoming a distraction," said the company.
The investigation did not find evidence to confirm complaints against him, but it revealed Other bad judgments, especially in how Mr. Bansal handled the situation, the company said.
Herr. Binsal has strongly denied the assertion, Walmart said, adding that Mr. Binsal has planned to leave the role for a while.
Kalyan Krishnamurthy, who has led the Flipkart unit since 2017, will now monitor the two online stores Myntra and Jabong. Ananth Narayanan, Managing Director of Myntra and Jabong, will report to him.
Walmart bought a 77% stake in Flipkart for $ 16 billion earlier this year, its biggest ever acquisition, which makes the company a cornerstone of Walmart's plans to restore its international portfolio.
Write to Kimberly Chin at kimberly.chin@wsj.com
