By Dana Sanchez
Binny Bansal, co-founder of Indian e-commerce giant Flipkart, is the latest high-profile CEO to go down in a blaze of personal misconduct allegations.
Walmart acquired a 77-percent stake in Flipkart in May. The $16 billion deal was the largest ever for the U.S.-based supermarket retail chain and will help it compete with Amazon in India.
Bansal will have to watch from a distance. Although an investigation failed to find any conclusive evidence of personal misconduct by him, it revealed “serious lapses in judgment, particularly a lack of transparency,” Financial Express reported.
Papa John’s Pizza CEO and founder John Schnatter made a racial slur and he’s out as CEO.
Elon Musk casually tweeted that he had a deal in place to take the company private. He was fined $40 million by the SEC and now he’s out as CEO of Tesla.
Major shareholders are calling for Mark Zuckerberg to step down from Facebook in light of the way he handled data privacy issues and 30 million hacked accounts.
Founders sometimes mislead stakeholders on the health of their business. Communication builds trust with employees and investors.
“All over the world, research illustrates that poor judgment and unethical behavior Click here to read entire article