Binny Bansal steps down as Group CEO of Flipkart

Binny Bansal has stepped down from his position as Group CEO of Flipkart amidst an investigation of 'serious personal misconduct'. He has denied the allegations. The allegations have not been made public.

In a press statement, Wallmart said, "His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct."

The statement further added that Kalyan Krishnamurthy will continue in his role as CEO of Flipkart that includes Myntra and Jabong. Anand Narayanan will continue as CEO of Myntra and Jabong and report to Krishnamurthy.