Ananth Narayanan has stepped down as the Chief Executive Officer (CEO) of Myntra and Jabong to pursue other opportunities.
Amar Nagaram has been named as the Head of Myntra and Jabong. He will report to Flipkart Group CEO Kalyan Krishnamurthy.
Myntra said in its statement, "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. Over the last three and a half years, he and the management team have built a strong foundation for the company which has become known for its innovative approach to business and building a unique culture of fashion and technology that has helped create a differentiated positioning for the business."
Narayanan stated, "While this was not an easy decision, I feel the timing is right - we are at an incredible position in the market, we have a set of long term investors in Walmart and have an outstanding team that can take Myntra-Jabong to even greater heights."