Ananth Narayanan appointed as CEO of Myntra [ Current Affairs ]
About Myntra: Myntra is an Indian e-commerce company of fashion and casual lifestyle products. It’s headquarter is in Bangalore, Karnataka. Myntra has appointed Ananth Narayanan as its chief executive officer (CEO).
- The founder of Myntra are graduates of Indian Institutes of Technology Mukesh Bansal, Ashutosh Lawania and Vineet Saxena with a focus on personalization of gift items.
- May 2014: Myntra.com merged with Flipkart aiming to compete against Amazon and other recognized offline sellers like Future Group, Aditya Birla Group and Reliance Retail. Amazon entered in the Indian market in June 2013. .
Ananth will succeed Flipkart’s co-founder Mukesh Bansal (currently serving as the head of company’s trade platform). He will start working from October 2015 from Myntra’s headquarters located in Bengaluru and will directly report to the Myntra board.
- Previous of this appointment, Narayanan was serving as Director of McKinsey and was leading its product development in Asia and its Automotive Practice in India. He has worked with the firm for 15 years across four offices (Chicago, Shanghai, Taipei and Chennai).
- McKinsey & Company is an American multinational management strong consulting company. It conducts qualitative and quantifiable analysis to evaluate management decisions. It had counseled Eighty percent of the world’s largest corporations, which are deliberated as the most impressive management consultancy.
- Narayanan’s appointment comes at a critical interval for the e-tailer because it has recently taken a daring risk of closing down its web presence to go app-only is a move which is being shortly matched by its parent Flipkart.
- Published on: July 24, 2015