Corporate Governance Crisis at Startups: The Zilingo Story
| Case Code: BECG187 Case Length: 18 Pages Period: 2018-2023 Pub Date: 2023 Teaching Note: Available |
Price: Rs.300 Organization: Zilingo Pte Ltd Industry: Countries: World Themes: Corporate Governance, Business Ethics,Organizational Crisis,Leadership & Values |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
On May 20, 2022, Singapore-based fashion technology startup Zilingo Pte Ltd (Zilingo), sacked its CEO and co-founder Ankiti Bose (Bose) over alleged financial irregularities discovered during an internal accounting investigation. Bose, however, denied any claims of wrongdoing. She argued that she was being unfairly targeted and referred to her ouster as a ‘witch hunt’ triggered by harassment complaints she had raised against an investor in the company. “I haven’t done anything wrong, I have only spoken up to bullies and I will be sharing my side of the story soon. I have been suspended for the last 51 days on the basis of an anonymous whistleblower complaint and today I am informed that my employment has been terminated interalia on grounds of subordination,” Bose said in a post on social media...
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