Myntra-Jabong CEO Ananth Narayanan has resigned from the company, after months of speculation over his exit. Myntra confirmed the development to MediaNama in a statement. Amar Nagaram, VP of consumer shopping experience at Flipkart, will now head Myntra and Jabong. He will report to Flipkart CEO Kalyan Krishnamoorthy.

Nagaram has been with Flipkart for close to 7 seven years, he joined company in May 2012. He has also been with Walmart Labs in their US office as a staff engineer.

Earlier today, the Economic Times reported that Narayanan is in consideration for the CEO role at Hotstar, or that he may move back to McKinsey as a consultant.

There was speculation over Narayanan’s exit after Binny Bansal departed from the company, but he later confirmed that he was staying on at Myntra-Jabong. Note that Walmart laid off 150 Jabong employees in November, and merged it with Myntra.