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Days After Binny Bansal’s Exit From Flipkart, Myntra’s CEO & CFO Quit

| Published on November 16, 2018

It seems like there is something fishy happening in Flipkart right now as days after the sudden resignation of Flipkart’s founder Binny Bansal, Myntra’s CEO & CFO have also decided to quit the company. The Times of India recently reported, CEO Ananth Narayanan and CFO Dipanjan Basu have signed papers to leave Myntra which was acquired by Flipkart in May 2014.

Also Read: Flipkart’s CEO & Co-Founder Binny Bansal Resigns With Immediate Effect

According to the media sources, the main reason for this is the decision of making Kalyan Krishnamurthy as the CEO of Flipkart after Bansal’s exit. People tracking the company had immediately started speculating on Narayanan continuation at Myntra as it was claimed that he did not share the best of relations with Krishnamurthy. Earlier Narayanan used to report to Group CEO Binny Bansal.

With this, Krishnamurthy has become the most powerful executive in the Flipkart group.

Narayanan had joined Myntra as CEO in 2015 after taking over from Myntra co-founder Mukesh Bansal. He joined Myntra at a time when several executives from consultancy companies were joining Flipkart group.


In an emailed statement to TOI, without denying the reports of Narayanan and Basu’s exit, Krishnamurthy said

“The Flipkart group is committed to the success of Myntra and growing the business, now more than ever. The Myntra team has been doing innovative work to grow the company and create India’s leading online platforms for fashion and lifestyle. We want to empower the Myntra team to continue to operate independently to achieve even greater success.”

Also, there have been talks about Myntra’s total workforce getting a significant cut, the report added.

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