Flipkart Group CEO Binny Bansal resigns after allegations of ‘misconduct’
New Delhi, Nov 13: Flipkart co-founder Binny Bansal has resigned as the company’s group CEO, following an internal investigation conducted by both Flipkart and its parent firm, Walmart, into an allegation of “serious personal misconduct,” the two companies said in a joint statement.
Bansal, 37, has strongly denied the allegations, the company said in a statement. Bansal and his representatives could not be reached for comment.
“While the investigation did not find evidence to corroborate the complainant’s assertions against Binny, it did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation,” the company said.
“Because of this, we have accepted his decision to resign.”
Kalyan Krishnamurthy, who heads the company’s main Flipkart e-commerce operation, would now act as chief executive for a broader group of businesses including apparel websites Myntra and Jabong, the company said.
Walmart earlier this year agree to pay $16 billion for a roughly 77 percent stake in the Indian e-commerce firm, Amazon’s main rival for India’s 1.3 billion consumers.
It was the U.S. retailer’s largest-ever deal and a major move in its efforts to oppose Amazon at home and abroad.
Courtesy: www.hindustantimes.com
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Vijay''s TVK wins an impressive 108 seats in TN polls
Chennai (PTI): Vijay-led TVK secured an impressive 108 seats trouncing the incumbent DMK led by M K Stalin which finished with only 59 seats in the Tamil Nadu Assembly elections held on April 23, as per the final tally of the ECI on Tuesday.
The opposition AIADMK won 47 seats while its allies the PMK obtained 4 and the BJP and AMMK clinched one seat each respectively in the election, according to the data available on the Election commission of India's website.
The DMK's allies - the Congress managed to win 5 seats, the IUML, CPI, CPI (M), and VCK: 2 each and DMDK secured one seat, among a total of 234 Assembly constituencies in the state.
The votes were taken up for counting on May 4 and the final tally was announced on Tuesday.
Actor-politician Vijay's Tamilaga Vettri Kazhagam on Monday created a record of sorts in the electoral history of Tamil Nadu and emerged as the single largest party by delivering a shock defeat to DMK and its president Stalin in his Kolathur constituency, while the AIADMK was pushed to a distant third spot.
Vijay won from both Perambur and Tiruchirappalli East constituencies.
The TVK has clocked nearly 35 per cent (34.92) vote share in its debut polls.
This will be the first time in Tamil Nadu that a party will assume power a little over two years after its founding in February 2024.
