Myntra hires Mckinsey's product development specialist as its CEO

BANGALORE, INDIA: Flipkart owned fashion and lifestyle business Myntra  has hired the Mckinsey & Company director, Ananth Narayanan as its CEO.

He will start working at Myntra’s Bengaluru headquarters from October 1, 2015.

He will take over from the current CEO and Co-Founder of Myntra, Mukesh Bansal, who will assume the position of the Chairman of the Board. While continuing to lead Flipkart’s commerce platform, Mukesh will also continue to be actively involved in contributing to Myntra's vision, strategy and overall direction in his role as Chairman.

Featured as one of “India's Hottest 40 under 40 Business Leaders” in 2014, Ananth Narayanan has deep expertise in driving performance improvement and has a particular passion for product development.

Ananth Narayanan has worked with Mckinsey & Company for 15 years across four offices (Chicago, Shanghai, Taipei and Chennai). At Mckinsey& Company, his role entailed leading the Product Development practice in Asia and working with companies on strategy, operations and organisation. He has successfully helped companies streamline operations and supply, improve product development, develop strategies, business plans and organizational models.

SachinBansal, Flipkart Co-Founder and CEO said, “As a group, we have huge aspirations for Myntra to lead the consumer experience in fashion and lifestyle space. I am delighted to welcome Ananth to Myntra and am quite sure that he will be able take the company to the next level by tapping possibilities never seen before in the industry.”

“Ananth will be a great leader to drive Myntra's aspiration to transform how people shop for fashion and to build category leading Fashion brands. I am looking forward to work with Ananth to shape the next phase in Myntra's evolution," added Mukesh Bansal, Board Chairman, Myntra and Head of Commerce, Flipkart.