Myntra-Jabong CEO Ananth Narayanan quits in Flipkart’s latest high profile exit

By: | Published: January 14, 2019 5:34 PM

Amar Nagaram who currently is the vice president for Flipkart's consumer shopping experience will be stepping in Narayanan's role.

Ananth Narayanan, Ananth Narayanan jabong, e-commerce, e-commerce industryAnanth Narayanan, CEO, Myntra-Jabong

Myntra and Jabong chief executive officer Ananth Narayanan has decided to quit to pursue external opportunities, Flipkart said in a statement.

Amar Nagaram who currently is the vice president for Flipkart’s consumer shopping experience will be stepping in Narayanan’s role. Nagaram will report to Flipkart Group CEO Kalyan Krishnamurthy.

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.

Narayanan’s decision to step down from the company comes following co-founder Binny Bansal’s exit in November last year.

Ananth has played an important role in making Myntra and Jabong into a formidable player in the fashion e-commerce market. The Flipkart Board of Directors and Kalyan Krishnamurthy, CEO Flipkart Group would like to thank Ananth for his contributions and wish him the very best for his future endeavours, the statement said.

Myntra and Jabong were merged in November last year following which around 150 employees were laid from Jabong as part of the restructuring exercise with Myntra.

Nagaram joined Flipkart in 2012 where he worked on making shopping accessible, delightful and affordable on every connected device, said his LinkedIn profile. He only recently moved to Myntra.

The company will continue to execute the growth strategy and leverage synergies with Flipkart as appropriate. The strong bench strength and new leadership at Myntra and Jabong will allow the business to continue on its strong and sustainable growth trajectory, Flipkart added in the statement.

Binny Bansal’s exit came 6 months after Sachin Bansal left the company by selling his 5.5% stake in Flipkart to retail behemoth Walmart in a deal wherein latter acquired 77% stake in Flipkart for $16 billion.

Myntra’s revenue reportedly dropped by 80% to Rs 427 crore for FY18.

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