CEO of Flipkart fashion unit Myntra steps down

The chief executive officer of Myntra, a unit of Walmart Inc-owned Flipkart, has resigned and a Flipkart executive has been tasked with heading the online fashion retailer, the Mint newspaper reported on Monday.

Myntra CEO Ananth Narayanan’s position will be abolished as Flipkart’s Amar Nagaram is set to head the unit, Mint reported, citing sources with direct knowledge of the matter.

Myntra declined to comment on the report in an email to Reuters.

The report comes weeks after Narayanan told Reuters in an interview that he would continue to lead operations following a reshuffle in the ranks after the departure of Flipkart group CEO Binny Bansal.

Myntra’s chief revenue officer, Mithun Sundar, and human resources head Manpreet Ratia have also resigned, Mint reported.

About 150-200 people have been laid off across Myntra and Jabong, another online fashion retailer owned by Flipkart, with a fresh round of layoffs expected in the coming weeks, the report said.

Flipkart group chief Binny Bansal resigned in November following allegations of sexual assault that dates back a few years.