Myntra appoints McKinsey's Ananth Narayanan as CEO

Fashion and lifestyle online portal, Myntra has appointed Ananth Narayanan as its chief executive officer. Mukesh Bansal, current CEO and co-founder of Myntra, will assume the position of the chairman of the board while continuing to lead Flipkart's commerce platform.

The appointment comes at a time, when Myntra has recently moved to a mobile only platform and is planning to completely revamp its customer interface to make it more personal and mobile friendly.

This, however, does not signify Bansal's exit from the firm that he founded, said the company. He will continue to be actively involved in contributing to Myntra's vision, strategy and overall direction in his role as chairman, the press statement added.

Flipkart has been seeing quite a few changes in its top deck. While Amod Malvyia, chief technology officer of Flipkart, stepped down earlier in July and moved to an advisory role, Sameer Nigam, senior vice-president of engineering also announced his decision to quit since he is setting up his own start-up. Meanwhile, the company hired Silicon Valley veteran Eric Lange as vice-president of product management.

Lange joined from Yahoo!, where he was vice-president of product management in the ads division.

Sachin Bansal, Flipkart co-founder and CEO said, "As a group, we have huge aspirations for Myntra to lead the consumer experience in fashion and lifestyle space. I am delighted to welcome Ananth to Myntra and am quite sure that he will be able take the company to the next level by tapping possibilities never seen before in the industry."

Narayanan is a Director at Mckinsey & Company and has been associated with the firm for 15 years. He will report to the Myntra Board and will come on-board from October 1, 2015.

On his new role, Narayanan said, "Myntra is a very unique player in the e-commerce space and I feel privileged to be able to work with both Myntra and the Flipkart teams to jointly shape the next S curve for Myntra."

Narayanan received his B. E from University of Madras in Engineering and his Masters from the University of Michigan, in Industrial Engineering and Operations Research.


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