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Myntra CEO Ananth Narayanan quits

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MUMBAI: Myntra’s chief executive officer (CEO) Ananth Narayanan has resigned and Flipkart executive Amar Nagaram will head Myntra, according to a report by Livemint.

Before joining Myntra, Narayanan has worked with Marico Ltd as a board member for 17 months and prior to that he was with McKinsey & Co for almost 15 years across four offices (Chicago, Shanghai, Taipei and Chennai). As a director in the organisation he was responsible for leading the product development practice in Asia and worked with several companies on strategy, operations and organisational models.

Ananth has a vast experience and knowledge from years in consultancy and managing operations to mentor start-ups. He also has deep expertise in driving performance improvement and product development.

Key Myntra leaders such as chief revenue officer Mithun Sundar, who took charge in April, and human resources head Manpreet Ratia, who also oversaw operations, supply chain and customer experience at Myntra, have also resigned, according to reports.

While Myntra has been growing fast, Jabong has struggled. Myntra bought Jabong in July 2016 from Rocket Internet for $70 million mainly to avoid a rival buying it. It is still unclear whether Flipkart will choose to keep the Jabong brand and platform alive. While Jabong will continue to operate for now, Flipkart may shutter the platform after a few months.

Key leaders such as former strategy head Ananya Tripathi and former Jabong head Gunjan Soni have resigned from Myntra. The list is expected to grow over the coming weeks.

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