Myntra CEO Ananth Narayanan resigns

In a development indicating major management changes at online retailer Myntra, its Chief Executive Officer Ananth Narayanan has resigned. With this development, Myntra may have abolished the position of the CEO in the company, reports suggest. Amar Nagaram, a Flipkart executive, is now likely to lead Myntra-Jabong as its new business head. Nagaram will report directly to Flipkart CEO Kalyan Krishnamurthy. In an earlier role, Nagaram served as the chief product and technology officer at Myntra.
Narayanan, the outgoing CEO who joined Myntra in July 2015 replacing founder Mukesh Bansal, was credited with the strong growth of Myntra in recent years. Myntra’s leadership team may see more resignations or demotions following Narayanan’s exit. Key people associated with Myntra such as former strategy head Ananya Tripathi, former Chief Financial Officer Dipanjan Basu and former Jabong head Gunjan Soni have already resigned. A bunch of executives have also been transferred from Myntra to Flipkart and vice versa.