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Myntra top brass exits – CFO and chief marketing officer put in papers – Economic Times

Close on the heels of CEO Amar Nagaram’s departure, Ramesh Bafna, chief financial officer and chief marketing officer Harish Narayanan have put in their papers at Myntra.

Three sources said both the executives are moving out of Flipkart Group while chief technology officer Raghu Krishnanada is moving to a role outside of Myntra but within Flipkart Group.

A Myntra spokesperson did not immediately respond to requests for comment on the latest departures.

The developments comes barely days after Flipkart announced appointment of Nandita Sinha will take over as the new CEO of the company effective January.

Prior to that Flipkart had moved Myntra’s business development head R Ayyappan to handle the business of Cleartrip, an online travel booking platform that Flipkart had acquired in April. Flipkart has appointed Sharon Pais, head of loyalty and travel at Flipkart, as the new business development head of Myntra replacing Ayyappan.

The latest departures come at a time when several top executives of Indian and global brands said Reliance Retail-owned is emerging as major competitor to Myntra.

The chief executive of a global brand that sells on Myntra termed said the latest developments as concerning.

“I am slightly worried,” said the CEO asking not to be named. He said frequent changes and the movement of top level executives would affect the overall business at the country’s largest online fashion platform.

ET was first to report last month that Nagaram has put in his papers as Myntra’s CEO, three years after he was elevated to the top post at the Bengaluru-based e-commerce company.