E-commerce firm Myntra on Monday announced the departure of its Chief Executive Officer Ananth Narayanan from the online firm. The development puts an end to months of speculation about his exit following a recent re-jig at the parent group Flipkart.

Amar Nagaram has been appointed as Head, Myntra and Jabong, and will report to Flipkart CEO Kalyan Krishnamurthy, a statement issued by the online firm said.

Narayanan is reportedly in talks with Star TV-owned video streaming app, Hotstar for the CEO position. The position has been vacant after the former CEO Ajit Mohan had quit to be Facebook India’s Managing Director.

The sources close to the matter said that despite ongoing talks, Narayanan may consider moving back to his previous employer, McKinsey, to join the consultancy firm’s US practise.

“Post the restructuring of the fashion business at the Flipkart group, Myntra and Jabong merged and Walmart did not see a clear role for Narayanan. Also, Narayanan himself was not very certain about the road ahead in this new set-up, as Krishnamurthy was going to take direct control of the two entities as the Flipkart CEO.” – Person close to the development.

Myntra said in a statement issued on Monday, “Ananth has played an important role in making Myntra and Jabong into a formidable player in the fashion e-commerce market and steering the company towards sustainable growth. Over the last three and a half years, Narayanan and the management team have built a strong foundation for the company. Myntra and Jabong are an important part of the Flipkart group serving our valuable customers. The company will continue to execute the growth strategy and leverage synergies with Flipkart as appropriate.”

Narayanan had joined Myntra in 2015 as its CEO and had been heading the combined entity after the Jabong acquisition.