Flipkart rejigs top management to restructure fashion business

By

Maverick Martins

Published
Dec 7, 2018

Walmart-owned online retailer Flipkart has started the process of shuffling key executives as part of its restructuring process post the merger of its fashion arms Myntra and Jabong.
 

Amar Nagaram, head of consumer shopping experience at Flipkart, has been moved to fashion portal Myntra in a newly-created role of chief technology and product officer (CTPO), while Myntra’s chief technology officer (CTO) Jeyandran Venugopal has moved to Flipkart to head its engineering division, Economic Times reported citing sources.
 
Nagaram is expected to be the eventual replacement of Myntra’s current CEO, Ananth Narayanan who is currently in the process of striking an exit deal with the Walmart management.

“Krishnamurthy isn’t looking to get a CEO to replace Narayanan right away, as most of the tech and engineering at Myntra is aligning with Flipkart. Nagaram has been working closely with him. This will be a new and elevated role for Nagaram. It would also mean tighter control that Krishnamurthy will have on Myntra’s operations,” a source told ET.
 
“Narayanan is presently in negotiations to arrive at the terms and conditions under which he would leave. “Narayanan is entitled to $20-25 million of stock options, but Walmart isn’t in agreement of a full cash out for his Esops,” another source added.
 
Flipkart had earlier moved Ayyappan R to Myntra to replace Ananya Tripathi as head of category management.