Ajit Narayanan is the new CTO of Flipkart-owned Myntra

Bengaluru-based fashion e-tailer Myntra Designs Pvt Ltd's chief technology and product officer Shamik Sharma has moved on to an advisory role and Ajit Narayanan has been appointed as the new CTO of the Flipkart-owned firm.

Narayanan was formerly the head of engineering at the Mukesh Bansal-founded fashion portal.

A Myntra spokesperson confirmed the development, without providing further details.

The Times of India (TOI) was the first publication to report this development.

The report, quoting anonymous sources, said that Sharma is expected to leave Myntra after a four-year stint at the company.

Sharma's current LinkedIn profile says, he is "senior technology advisor at Myntra and other startups."

His profile also says that, he "helped the company grow from $30 million to $1 billion."

Sharma, a former Yahoo and Lytro employee, had joined Myntra in September 2012.

A Myntra statement to TOI said, "Ajit Narayanan 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."

In August, two other top executives had quit Myntra. The executive were Prasad Kompalli, head of commerce, and Abhishek Verma, who led the fashion brands vertical.

In July, its chief creative officer Gautam Kotamraju joined Amazon India and Prabhakar Sunder quit as the CFO to join competitor Voonik.

Four months ago, Myntra had agreed to acquire Jabong from its parent Global Fashion Group for $70 million (Rs 470 crore) in cash to create India's biggest fashion e-tailer. After the deal, Flipkart controls 70% of the online fashion market.

This month, Jabong also witnessed top- level exits.