Conflicting reports about Ananth Narayanan’s employment as CEO of Flipkart Group’s Myntra-Jabong have emerged. Yesterday, the Times of India reported that Narayanan and CFO Dipanjan Basu have both resigned, citing that Narayanan did not have the “best of relations” with Kalyan Krishnamurthy, who took over as CEO from Binny Bansal. However, today, Narayanan told Reuters that he would continue at Myntra-Jabong as CEO. “I’m very excited about Myntra,” he told the publication in an interview.
MediaNama has reached out to Myntra and Flipkart, and will update this when we hear from them.
The TOI report added that Narayanan’s possible exit could lead to employee redundancies of 100-500 people. Reuters did not elaborate on this. Business Standard had also reported (paywall) that Narayanan was likely to quit after Flipkart shuffled the reporting structure.
Two days ago, Flipkart Group CEO Binny Bansal resigned after an allegation of sexual harassment was made against him. Although a Walmart-Flipkart probe did not find evidence into the claim, it did “reveal other lapses in judgment, particularly a lack of transparency, related to how Binny responded to the situation.”