The Indian fashion e-commerce company, Myntra, is undergoing changes at the management level, with many senior leaders putting in their papers recently, including its HR head, Manpreet Ratia.
Following the resignation of Binny Bansal, CEO, Flipkart Group last month, Ananth Narayanan, CEO, Myntra, quit followed by Mithun Sundar, chief revenue officer (CRO).
On the whole, Flipkart has fired almost 200 employees from its fashion units, Myntra and Jabong, but has been offering rentention packages in the form of incentives in addition to the regular salary to other employees and executives.
It is reported that the position of CEO will soon be obliterated and Flipkart’s executive, Amar Nagaram, is expected to lead Myntra.
Flipkart had been acquired by Walmart earlier this year for $16 billion, making it possible for the former to offer stiff competition to Amazon.