ET Exclusive: Flipkart’s former suites write to Walmart board, seek fair treatment and full cash out of vested ESOPs
Mumbai/New Delhi: A group of former senior Flipkart executives, including ex-CEO Mukesh Bansal ex-CFO Sanjay Baweja, ex-chief business officer (CBO) Ankit Nagori has asked Walmart to buy out their vested stock options as the online retailer’s India listing plans have got deferred again, denying them a big payday opportunity. This comes as Flipkart has completed a partial buyback of stock options from current employees four months back.
The October 1 letter, which ET has seen, is addressed to all 11 members of the parent company’s board, including chairman Gregory B Penner, and Flipkart CEO Kalyan Krishnamurthy. It seeks “fair treatment” for the vested stock options that were given out 10-15 years back.
