Myntra CTO Shamik Sharma quits: Sources
Myntra’s chief technology and product officer Shamik Sharma has moved into an advisory role at the Flipkart-owned fashion e-tailer, sources told TOI. According to people aware of the development, he is expected to leave Myntra after a four-year stint. Sharma is currently transitioning out of his role at the company while also mentoring other startups, it is learnt.
His move comes at a time when Myntra is trying to re-position the recently acquired smaller rival Jabong amid talks of it being shut down as a separate entity. When contacted, a Myntra spokesperson confirmed the development, saying, “Shamik Sharma has moved on to an advisory role. In his previous role as the company’schief technology & product officer, he led several breakthrough technological innovations. Shamik will continue as technology adviser and play a key role in Myntra’s product and technology growth.” The company added that Shamik is succeeded by “Ajit Narayanan, who has been appointed as the new CTO of Myntra.”
“Ajit was earlier heading storefront engineering and has been a key leader in several of Myntra’s innovations. Ajit has been elevated to head all engineering at Myntra. With our mission of using technology to democratise fashion, we are very excited about the new leadership role that Ajit has assumed. He will strengthen the platform and further build upon the strong technological foundations of the company.”
Narayanan is a former SAP Labs executive who had joined in April last year as its CTO, while former Google executive Ambarish Kenghe is head of products.
Sharma, who has previously worked with Yahoo, is moving out at a time when Myntra is in the midst of seeing other top-level exits like that of Prasad Komapalli, head of commerce, and Abhishek Verma, head of private brands. Prabhakar Sunder, who was CFO of the company, left to join rival Voonik, while Gautam Kotamraju, chief creative officer, went on to join e-commerce giant Amazon.
In addition to the acquisition of Jabong which has given Myntra clear dominance in the online fashion space. the company at present is also working to launch its long planned omni-channel strategy with physical presence. Myntra is likely to open its first offline branded store this year starting from Bengaluru, while it is also in talks with traditional retail major Shoppers Stop to sell its private brands, TOI reported in its October 17 edition.