T Koshy, the founding CEO and MD of government-backed Open Network for Digital Commerce has stepped down from his role. Going forward, an executive committee would take the lead of the e-commerce platform.
"ONDC has witnessed remarkable growth in under three years, surpassing 200 million transactions and making strong strides toward its mission of democratising e-commerce in India. As with any dynamic and evolving organisation, a leadership change is currently underway," ONDC said in a statement.
"Koshy has expressed his desire to step down while helping on with the change. The MD and CEO responsibilities have been transitioned to an executive committee with Koshy available to the board over the next three months for advise," it added, stating that ONDC continues to perform well and is on track to achieve its key milestones.
A government-backed initiative, ONDC was launched in 2021. It was set up primarily to make digital commerce accessible to smaller players. It has been set up as a not-for-profit entity, which has formulated a set of standards for voluntary adoption by sellers or logistics providers or payments gateway operators.
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