Myntra says Ananth resignation is 'speculation'

Online fashion retailer Myntra on Monday denied a media report that said its Chief Executive Officer (CEO) Ananth Narayanan has quit from the organisation. In an email statement, the company said, "As a policy, we don’t comment on speculation."

This is the second time that the company is quashing rumours. Last month, there was a similar speculation but the company later denied it.

In the third week of November, Myntra announced its integration with sister company Jabong, and the company said Ananth Narayanan will continue to lead the two fashion portals.

The development comes days after the resignation by Flipkart group chief executive officer and co-founder Binny Bansal following a probe into an alleged "serious personal misconduct". Bansal, however, has denied the allegations.

Flipkart had acquired online fashion portal Myntra in 2014 and Myntra had acquired Jabong in July 2016 from Rocket Internet.

Narayanan had joined Myntra as the chief executive in 2015, succeeding Myntra co-founder Mukesh Bansal.