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Flipkart founder's exit heralds management exodus under Walmart

US retailer's struggles in India push it to take greater control

Flipkart CEO Kalyan Krishnamurthy is well-suited to lead the company, said one analyst.    © Reuters

MUMBAI -- The unceremonious exit this week of Binny Bansal from Flipkart, the e-commerce unicorn he co-founded, may well signal the start of an exodus of senior and middle-level executives, under the company's new owners Walmart, industry watchers and experts say.

Binny, who started Flipkart in 2007 with Sachin Bansal (no relation), stepped down as CEO on Tuesday following an investigation into alleged "serious personal misconduct." Binny denies any wrong-doing.

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