CEO Ananath Narayanan quits Myntra, Flipkart likely to abolish post

After Binny Bansal’s exit from Walmart owned Flipkart, it’s now Myntra’s Chief Executive Officer who has resigned. According to a LiveMint report, Flipkart executive Amar Nagaram would head Myntra now. Citing three unnamed people, the report stated that Flipkart is also looking to abolish Myntra CEO post after Ananath Narayanan’s exit.

Ananath Narayanan‘s resignation came weeks after his comments that he had ‘no reason to quit’.

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, the report claimed.

The retention packages have, however, not been offered to those at the senior vice president level, sources told the publication.

Earlier, Flipkart’s Chief Executive Officer Binny Bansal had quit after allegations of personal misconduct. The chief executive of Flipkart Group, Walmart Inc’s Indian e-commerce business, resigned following an internal probe into accusations of “serious personal misconduct,” Walmart said.

The misconduct accusations followed an allegation of sexual assault, two people familiar with the matter said.

In a note sent to Flipkart employees, which was seen by Reuters, Bansal said recent events led him to step down from his role as chairman and CEO. He said the events related to a claim of misconduct against him, “which was uncorroborated after a thorough investigation completed by an independent law firm.” Bansal did not give details of the nature of the claim. “The allegations left me stunned and I strongly deny them,” he wrote.