Ananth Narayanan steps down as Myntra Jabong CEO
Sources added Amar Nagaram, the vice president for consumer shopping experience at Flipkart, is likely to replace the Narayanan. Nagaram will report to Flipkart CEO Kalyan Krishnamurthy.
Flipkart on Monday said Ananth Narayanan, the chief executive officer of Myntra Jabong, has decided to step down from his post to pursue external opportunities.
Amar Nagaram, the vice president for consumer shopping experience at Flipkart, will replace Narayanan, the company said in a statement. Nagaram will report to Flipkart Group CEO Kalyan Krishnamurthy.
CNBC-TV18 reported earlier in the day that Narayanan will step down today.
Narayanan has played an important role in making Myntra and Jabong into a formidable player in the fashion ecommerce market and steering the company towards sustainable growth, the company said.
"Over the last three and a half years, he and the management team have built a strong foundation for the company which has become known for its innovative approach to business and building a unique culture of fashion and technology that has helped create a differentiated positioning for the business," Flipkart added.
Myntra and Jabong were merged in November last year and Jabong laid off more than 100 employees as part of the restructuring and integration with Myntra.
Narayanan's decision to step down from the company comes following co-founder Binny Bansal's exit in November, who was instrumental in bringing Myntra-Jabong directly under Krishnamurthy.
Bansal’s resignation marked the exit of co-founders from Flipkart. Sachin Bansal had exited the company they founded after selling his stake to US retailer Walmart.
First Published: Jan 14, 2019 10:07 AM IST
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