Distractions. Distractions and Distractions.
After WalMart acquired Flipkart, Sachin left and now, Binny is off the table, albeit not so nicely.
Earlier today, Binny Bansal announced his resignation as CEO of Flipkart Group, effective immediately. Binny has been an important part of Flipkart since co-founding the company, but recent events risked becoming a distraction and Binny has made a decision to step down.
His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct. He strongly denies the allegation. Nevertheless, we had a responsibility to ensure the investigation was deliberate and thorough. 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. Because of this, we have accepted his decision to resign (official Walmart response).
The integration mess will continue for a very very long time.
Flipkart will continue to lose more (the market share). More distractions ahead.
Amazon will continue to stay Focused.
And will win.
Congrats Amazon. Walkart has given you a fairly open playground.