CEO of Flipkart's arms Myntra, Jabong Ananth Narayanan quits
Monday - January 14, 2019 6:48 pm , Category : BUSINESS
Bengaluru, Jan 14 (IANS) The Chief Executive of Flipkart Group's e-tail portals Myntra and Jabong, Ananth Narayanan, has stepped down from the post, the companies said on Monday."Ananth has decided to step down as the Chief Executive Officer (CEO) of Myntra and Jabong to pursue external opportunities," city-based Myntra and Jabong said in a statement here.Ananth, 42, who has been with the company for the past three years, has played a key role in making Myntra and Jabong a formidable player in the fashion e-commerce market, the statement added.The portals have named Amar Nagaram as the head of Myntra and Jabong, reporting to Flipkart Group's Chief Executive Kalyan Krishnamurthy."Amar, who recently moved to Myntra from Flipkart, has been with the Group for about seven years and has played a pivotal role in making shopping accessible and affordable on every connected device," the statement said.As the country's largest e-commerce player, the 11-year-old Flipkart Group, which is owned by American retail giant Walmart, includes e-tail sites Flipkart, Myntra, Jabong and digital payment platform PhonePe.In May last year, Walmart bought a 77 per cent equity stake in the company for a whopping $16 billion (Rs 1,16,256 crore).The fashion e-tail sites Myntra and Jabong remain an important part of the Flipkart Group, the companies said."The new leadership at Myntra and Jabong will allow the business to continue on a strong and sustainable growth trajectory," the statement added.