Myntra appoints Ananth Narayanan as chief executive

NEW DELHI: Myntra has appointed Ananth Narayanan as its new chief executive officer. Current CEO and co-founder of Myntra Mukesh Bansal will become chairman of the board, while continuing to lead Flipkart’s commerce platform, Myntra said in a statement. A week ago, a Myntra spokesperson had told ET that it was not in the process of hiring for the position of CEO. Narayanan, a director in McKinsey’s Chennai office, was featured as one of India's ‘Hottest 40 under 40 Business Leaders’ in The Economic Times in 2014 and has worked with the firm for 15 years in four locations. He will start at Myntra’s Bengaluru headquarters on October 1 and will report to the Myntra board.

At Mckinsey, he led the product development practice in Asia and worked with companies on strategy, operations and organisation. He was also helping companies streamline operations and supply, improve product development, develop strategies, business plans and organisational models. Mukesh Bansal said, “Ananth will be a great leader to drive Myntra’s aspiration to transform how people shop for fashion and to build category leading fashion brands. Ananth joins at a time when Myntra has established a strong leadership in the fashion space.I am looking forward to working with Ananth to shape the next phase in Myntra’s evolution.”