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Shock exits at Flipkart: Myntra CEO quits; 500 job cuts seen, says report

Flipkart Group CEO Binny Bansal resigned earlier this week following allegations of sexual assault that dates back to a few years

Reuters 

Ananth Narayanan
File photo of Ananth Narayanan

The chief executive officer of Indian online fashion retailer Myntra, Ananth Narayanan, has decided to resign, days after the co-founder and group chief executive of its parent stepped down, The Times of India reported on Friday.

Bengaluru-based Myntra, which was bought by e-commerce group in 2014, could also see a job cut of up to 500 people, the paper reported, citing sources.

Myntra Chief Financial Officer Dipanjan Basu has also decided to put in his papers, the paper said.

did not comment on the report.

Myntra did not immediately respond to a Reuters request for comment.

ALSO READ: Myntra-Jabong CEO Ananth Narayanan likely to quit after reporting rejig

Flipkart Group CEO Binny Bansal resigned earlier this week following allegations of sexual assault that dates back to a few years.

Walmart Inc bought a roughly 77 per cent stake in Flipkart in May for $16 billion.

The Business Standard daily reported on Thursday Narayanan's resignation was on the cards after Flipkart revamped its reporting structure following Bansal's exit.

ALSO READ: Flipkart helps Walmart dodge revenue headwind from stake sale in Brazil

First Published: Fri, November 16 2018. 10:19 IST
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