Binny Bansal is exiting the board of Flipkart, the e-commerce firm founded by him and Sachin Bansal (no relation) in 2007, he announced on Saturday, ending his association with the Bengaluru-headquartered company, which was acquired by Walmart in May 2018 for $16 billion.

Binny Bansal (File Photo/REUTERS)

“I am proud of the Flipkart Group’s achievements over the past 16 years. Flipkart is in a robust position, with a strong leadership team and a clear path forward, and with this confidence, I have decided to step aside, knowing the company is in capable hands. I wish the team the best as they continue to transform experiences for customers, and I remain a strong supporter of the business,” Bansal said in a statement.

(Developing story. Check again for details)

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