After the resignation of the Myntra CEO, Ananth Narayan, Myntra sets to abolish the CEO position, LiveMint reported on Monday, 10 December. Also according to the report by LiveMint, Flipkart’s Amar Nagaram has been given the responsibility to head Myntra.
Bengaluru: Apart from the CEO, Myntra’s key leaders – the Chief revenue officer Mithun Sundar, and human resources head Manpreet Ratia, who also oversaw operations, supply chain and customer experience at Myntra, have also resigned.
Myntra and Jabong have already laid off about 150-200 people across. It is still unclear whether Flipkart will choose to keep the Jabong brand and platform alive for the long haul. While Jabong will continue to operate, for now, Flipkart may shutter the platform after a few months.
The former CEO, Narayanan, did not respond to calls and text messages seeking comment. A spokesperson for Myntra denied any plan to lay off workers.
Flipkart Group is deeply committed to the success of Myntra and Jabong as market-leading brands. The integration of the two brands’ back-office teams is a long-planned and one-off realignment that started since Myntra’s acquisition of Jabong in July 2016. We have no further restructuring plans at this time
Flipkart has attempted to retain key personnel at Myntra offering retention bonuses and packages, although not offering to those at the senior vice presidential level.
Mint reported on Friday that Myntra’s CTO Venugopal is expected to be moved to Flipkart in a new role.