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CEO of Flipkart's fashion unit Myntra quits, job cuts seen - Times of India

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CEO of Flipkart's fashion unit Myntra quits, job cuts seen - Times of India

CEO of Flipkart's fashion unit Myntra quits, job cuts seen - Times of India
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Abhishek Chinnappa(Reuters)
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(Reuters) - The chief executive officer of Indian online fashion retailer Myntra, Ananth Narayanan, has decided to resign, days after the co-founder and group chief executive of its parent Flipkart stepped down, the Times of India reported on Friday.

Bengaluru-based Myntra, which was bought by e-commerce group Flipkart in 2014, could also see a job cut of up to 500 people, the paper reported https://bit.ly/2RUvhDR, citing sources.

Myntra Chief Financial Officer Dipanjan Basu has also decided to put in his papers, the paper said.

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Flipkart did not comment on the report. Myntra did not immediately respond to a Reuters request for comment.

Flipkart Group CEO Binny Bansal resigned earlier this week following allegations of sexual assault that dates back to a few years.

Walmart Inc <WMT.N> bought a roughly 77 percent stake in Flipkart in May for $16 billion.

The Business Standard daily reported on Thursday Narayanan's resignation was on the cards after Flipkart revamped its reporting structure following Bansal's exit.

(Reporting by Chris Thomas in Bengaluru; Editing by Gopakumar Warrier)

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