Narayanan has reportedly stepped down from his position in Myntra-Jabong almost two months after group CEO Binny Bansal exited the e-retail firm. He is replaced by Amar Nagaram, who had earlier moved from Flipkart to Myntra.
According to an Economic Times report, Narayanan is in talks to take up the role of the CEO, Hotstar. Star Sports is yet to name a permanent replacement for the position vacated by Ajit Mohan, who was recently appointed as Facebook India’s managing director.
However, the ET report has conflicting information. Several other sources have informed the business daily that the long-time McKinsey consultant Narayanan may consider moving back to the consultancy firm and join its US practise.
“Post the restructuring of the fashion business at the Flipkart group, Myntra and Jabong merged and Walmart did not see a clear role for Narayanan. Also, Narayanan himself was not very certain about the road ahead in this new set-up, as Krishnamurthy was going to take direct control of the two entities as the Flipkart CEO,” ET has quoted sources privy to the development as saying.