Merger and Acquisitions have impacts. According to media reports, two senior executives of the e-tailer firm Myntra, Prasad Kompalli, and Abhishek Verma have decided to quit the company. This comes after its Chief Creative Officer Gautam Kotamraju resigned to join Amazon India and Prabhakar Sunder quit as the CFO to join Voonik. And it’s just been a month that Myntra has acquired rival Jabong in an all-cash deal worth $70 million.
It is not clear whether these exits are part of a management rejig after Myntra’s acquisition of Jabong.
Prasad Kompalli is the Head, eCommerce Platform at Myntra Designs Pvt Ltd and Abhishek Verma who led the brands vertical, according to the reports by ET.
The report cited a Myntra spokesperson as saying that Kompalli will take an advisory role from October while a senior retail industry executive will replace Verma in September.
Kompalli and Verma, who directly reported to CEO Ananth Narayanan, are credited with developing the private brand vertical, which Myntra counts as a key vertical to spearhead growth. Myntra is also planning to open its first offline store in the next three months.
The development follows another round of senior-level exits in the backdrop of Myntra’s acquisition of Jabong. A month ago, its chief creative officer Gautam Kotamraju joined Amazon India and Prabhakar Sunder quit as the CFO to join competitor Voonik.