In a top-level administrative move, Myntra CEO Amar Nagaram has announced to have resigned from the Flipkart-owned online fashion retailer to start his own venture.
“After nearly three years of leading Myntra, Amar has decided to leave the Flipkart Group to pursue his own venture,” Kalyan Krishnamurthy, CEO of Flipkart, told group employees via an email.
“Amar will be with us till end-December to ensure a smooth transition and will continue to be associated with us in an advisory role. We will share details of his successor shortly,” he said.
Nagaram's resignation comes days after Flipkart transferred Myntra's business development head R Ayyappan to handle the business of Cleartrip, an online travel booking platform that Flipkart had acquired in April. Sharon Pais, head of loyalty and travel at Flipkart, has been named the new business development head of Myntra, replacing Ayyappan.
Nagaram was named CEO of Myntra in January 2019 after its previous head Anath Narayanan quit shortly after Walmart Inc completed the acquisition of Flipkart Group for about $16 billion in August 2018.
