Speculation ends! Ananth Narayanan steps down as Myntra-Jabong CEO
"Ananth has played an important role in making Myntra and Jabong into a formidable player in the fashion e-commerce market and steering the company towards sustainable growth," Myntra said in its statement Monday.
Fashion e-tailer Myntra Monday said its CEO Ananth Narayanan has quit, a development that ends months of speculation about his exit following a recent re-jig at its parent group Flipkart. In a statement, Myntra said Narayanan has decided to step down as CEO of Myntra and Jabong to pursue external opportunities.
Amar Nagaram has been named as Head, Myntra and Jabong, and will report to Flipkart Group CEO Kalyan Krishnamurthy, it added.
There were speculations that Narayanan would quit after a new reporting structure was put in place when Binny Bansal -- the then CEO at Flipkart Group (which owns Myntra and Jabong) -- quit the company.
TRENDING NOW
As a part of the new structure, Myntra and Jabong were brought under Flipkart, with Narayanan reporting to Krishnamurthy.
Reports suggest that Narayanan is moving to content streaming platform Hotstar, but the same could not be independently ascertained.
"Ananth has played an important role in making Myntra and Jabong into a formidable player in the fashion e-commerce market and steering the company towards sustainable growth," Myntra said in its statement Monday.
It added that over the last three and a half years, Narayanan and the management team have built a strong foundation for the company.
"Myntra and Jabong are an important part of the Flipkart group serving our valuable customers. The company will continue to execute the growth strategy and leverage synergies with Flipkart as appropriate," it said.
The strong bench strength and new leadership at Myntra and Jabong will allow the business to continue on its strong and sustainable growth trajectory, the statement added.
Watch This Zee Business Twitter Video
#LIVE | 2019 से क्या हैं ए एम नाइक की उम्मीदें? देखिए L&T के ग्रुप चेयरमैन ए एम नाइक के साथ @SwatiKJain की खास बातच… https://t.co/C9wYhBM7gP
— Zee Business (@ZeeBusiness) January 14, 2019
Nagaram, who recently moved to Myntra from Flipkart, has been working with the group for around seven years.
"...(Nagaram) has played a pivotal role in making shopping accessible, delightful and affordable on every connected device. Most notably, he led the efforts on revisiting the boundaries of mobile web, making the experience on it as good as native," the statement said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
06:39 pm
Myntra's EORS-18 goes live on June 1, offering 20 lakh styles across over 6,000 brands
Myntra launches AI-based personal style assistant 'My Stylist' that helps customers complete their look
36% online MSME sellers plan to launch new products before festive season: Survey
Myntra Big Fashion Festival Sale to start from THIS date - Deals, Offers | Avail OFF on these banks' cards
Myntra Sale 2022: End Of Reason Sale - Date, offers and other details of 6-day fashion carnival
