Binny Bansal on Tuesday tendered his resignation as CEO of Flipkart Group following an independent probe conducted on behalf of Flipkart and Walmart into an allegation of serious personal misconduct. Binny, who had co-founded the e-commerce platform Flipkart with Sachin Bansal in October 2007, was serving as the chief operating officer (COO) until January 11, 2016. In January 2017, he was promoted to chief executive officer (CEO).

After Walmart Inc acquired 77 percent of Flipkart for $16 billion in May, Sachin Bansal exited the business by selling his entire stake of over 5 percent for around Rs 7,000 crore while Binny decided to retain his 5.5 percent stake.

According to reports, Kalyan Krishnamurthy could be roped in as the next CEO of Flipkart. The Bengaluru-based electronic commerce company will include Myntra and Jabong and continuing operation as separate platforms within the Flipkart business. Sameer Nigam will continue leading PhonePe as CEO. Both Kalyan and Sameer will report directly into the board, reports said.