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Top-Level Exits Continue At ONDC As Independent Director Arvind Gupta Quits
- Arvind Gupta, independent director at ONDC, has resigned from his position.
- Gupta, a founding member, played a significant role in shaping and guiding ONDC's early growth.
- He decided not to continue as an independent director after a full three-year term.
- Gupta remains a staunch supporter of ONDC's mission.
- Previously, ONDC's managing director T Koshy and chief business officer Shireesh Joshi also stepped down.
- Vibhor Jain is currently the acting CEO of ONDC after Koshy's exit.
- With Gupta's departure, ONDC now has three independent directors left on its board.
- ONDC, founded in 2021, aims to empower local sellers to access a wider audience.
- It functions as a network platform and does not own a consumer-facing ecommerce portal.
- The platform has achieved 200 Mn transactions and operates in several sectors like foodtech and consumer goods.
- Despite some success, ONDC faces competition from quick delivery platforms like Zepto and Swiggy Instamart.
- The network's transaction volume dropped from 120 Mn to 30 Mn transactions by March this year.
- ONDC is governed by a board of directors and an advisory council.
- The platform was developed as an alternative to major ecommerce players like Flipkart and Amazon.
- Gupta has over 30 years of experience in entrepreneurship and leadership.
- He is also the co-founder and head at Digital India Foundation.
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