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23rd October 2021, Mumbai:
Amar Nagaram, the CEO of Myntra, has resigned three years after being promoted to the top job at the country's largest online clothes store.
He has been in this position for about three years and will remain with the firm until the end of December to ensure a smooth transition.
His departure comes days after the Flipkart Group shifted R. Ayyappan, Myntra's business development chief, to oversee the business of Cleartrip, an online travel booking site that Flipkart purchased in April, according to media sources.
Sharon Pais, the head of loyalty and travel at Flipkart, has been named the new business development head of Myntra, succeeding Ayyappan.
"Myntra's CEO, Amar Nagaram, has been a powerful facilitator, leading the firm to offer extremely engaging and personalised fashion experiences for clients."
Amar has decided to leave the Flipkart Group to explore his own business after nearly three years as CEO of Myntra," Kalyan Krishnamurthy, CEO of the Flipkart Group, which owns Myntra, said in a statement to workers.
"We will miss Amar's presence in the team," said Krishnamurthy, to whom Nagaram reported directly.
"Amar has been a vital member of the Group for close to 10 years and has headed different teams at Flipkart previous to his present post, and we will miss his presence in the team," added Krishnamurthy.
Krishnamurthy stated, "We will release details of his replacement shortly." Nagaram's exit comes as Ajio.com, which is owned by Reliance Retail, is gaining traction as a significant rival.
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