After Binny Bansal, CEO of Flipkart's fashion unit Myntra Ananth Narayanan quits, job cuts seen: Report
The chief executive officer of online fashion retailer Myntra, Ananth Narayanan, has decided to resign, days after the co-founder and group chief executive of its parent Flipkart stepped down, the Times of India reported on Friday.
The chief executive officer of online fashion retailer Myntra, Ananth Narayanan, has decided to resign, days after the co-founder and group chief executive of its parent Flipkart stepped down, the Times of India reported on Friday.
Bengaluru-based Myntra, which was bought by e-commerce group Flipkart 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.
Flipkart did not comment on the report. Myntra did not immediately respond to a Reuters request for comment. 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 percent 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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
10:59 AM IST