After M&A, it is the founder leaders that help the new company ease into the new business and geography. But in a peculiar event Flipkart's CEO Binny Bansal stepped down following Walmart's investigation into an allegation of \"serious personal misconduct\".

As its several senior executives are looking for new job opportunities, duplication of profiles arising out of integration within the Walmart-owned Flipkart Group could lead to even more top-level exits in the group.

Jabong is expected to lay off a significant portion of its workforce in Gurgaon as part of the restructuring effort that is underway at Flipkart Group post the deal with Walmart.

The stock has been losing for the last 3 days and has fallen 11.59% in the period. The large cap stock opened at a loss of 2.65% at 200.55 on BSE. The stock is trading below its 50-day and 200-day moving average of 213.78 and 316.58.

It took about 24 hours for Binny Bansal to go from Group CEO and Chairman of Flipkart to being forced to step down following allegations of personal misconduct.

Ghosh joins OYO Hotels & Homes following a stint as an advisor to Tata Trusts. In July, he had stepped down from his position as IndiGo's president and wholetime director.

Unlike the other co-founder Sachin Bansal who cashed out his stake, Binny Bansal has made his intentions clear by indicating he will hold on to minority stake in the company.