Marico appoints Ananth Narayanan as Additional (Independent) Director

Homegrown consumer goods company Marico Marico has announced the appointment of Ananth Narayanan, Chief Executive Officer at Myntra and Jabong, on its Board of Directors. Narayanan joins the board as an Additional (Independent) Director. His appointment as Independent Director for a term of five years is subject to the approval of the shareholders at its ensuing AGM today.

The Board now comprises Chairman and Non-Executive Director Harsh Mariwala, six independent Directors – Anand Kripalu, B. S. Nagesh, Hema Ravichandar, Nikhil Khattau, Rajeev Bakshi and Ananth Narayanan – Managing Director & CEO Saugata Gupta, and two Non-Executive Directors – Rajen Mariwala & Rishabh Mariwala.

Narayanan, after taking over from Mukesh Bansal as Myntra’s CEO in 2015, is credited for transforming the online fashion portal (acquired by Flipkart in 2014) into one of the biggest shopping destinations in India. Under his leadership, Myntra has made multiple strategic acquisitions, including Jabong from Global Fashion Group; making it India’s biggest fashion shopping destination.

Narayanan started his career with Mckinsey & Company where he worked for 15 years across four offices (Chicago, Shanghai, Taipei and Chennai). In his most recent role as Director in the company, he was responsible for leading the Product Development practice in Asia and worked with several companies on strategy, operations and organizational models.

Narayanan has a Bachelor’s degree in Engineering from University of Madras and a Masters from the University of Michigan, in Industrial Engineering and Operations Research. He is on the Industry Advisory Board of University of Michigan’s Tauber Institute.

Harsh Mariwala, Founder & Chairman, Marico Limited, said, “I am delighted to welcome Ananth on board and I am confident that his rich experience, knowledge and proficiency will prove to be an invaluable asset to the company as it embarks upon the next phase of sustainable profitable growth in an ever-evolving digital world.”

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