McKinsey's director to be Myntra CEO

 Myntra has appointed Ananth Narayanan as its CEO, a McKinsey veteran, after its co-founder Mukesh Bansal moved to Flipkart in a bigger role post its acquisition last year. Bansal will assume the position of the chairman of the board at Myntra while continuing to lead Flipkart's commerce platform Stock Market Trading Tips

Narayanan is a director at McKinsey and has been credited with successfully setting up the top-tier consulting firm's Chennai office. He currently leads product development in Asia and the automotive practice in India for McKinsey. Bansal will continue to be actively involved in contributing to the company's vision, strategy and overall direction in his role as chairman, a statement from the online retailer said on Tuesday. 

Myntra, which is now an m-commerce platform selling fashion and lifestyle products, was acquired for $330 million in May last year by Flipkart. Bansal, who is now steering Flipkart's entire commerce platform, founded Myntra in 2007 along with fellow IITians Ashutosh Lawania and Vineet Saxena, which has since changed its business model from being a portal offering personalized gifting options to its present avatar Himanshu Tiwari Astrologer

Bansal has scaled up from heading fashion at the combined entity of Flipkart and Myntra to being responsible for the entire commerce platform at the e-commerce biggie Flipkart. It has been a stellar rise for the 39-year-old who has focused his attention on growing Flipkart over the last six months, the reason Myntra needed a full-time CEO. 

Narayanan has been with McKinsey for 15 years across four offices (Chicago, Shanghai, Taipei and Chennai) and is expected to join Myntra's Bengaluru headquarters from October 1, 2015 Share Market Astrology

Sachin Bansal, Flipkart's co-founder & 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." 

Mukesh Bansal, said that Narayanan joins at a time when Myntra has established a strong leadership in the fashion space and is leading the space in mobile revolution. "I am looking forward to working with him to shape the next phase in Myntra's evolution," he said Nifty Trading Tips