Koshy steps down after three-year stint as ONDC CEO

Thampy Koshy has stepped down as managing director and chief executive officer at government-backed e-commerce protocol Open Network for Digital Commerce (ONDC) after a three-year stint, Mint reported, citing people aware of the development.

Koshy will continue as an advisor to the board over the next three months, and his responsibilities as MD and CEO will be handed over to an executive committee, the report said.

Koshy had expressed his desire to step down, but he will continue to assist in the transition phase, the Mint report said, citing a company statement.

“ONDC has witnessed remarkable growth in under three years, surpassing 200 million transactions and making strong strides toward its mission of democratizing e-commerce in India. As with any dynamic and evolving organization a leadership change underway,” the statement said.

Set up in 2021, ONDC is a government-backed initiative to make digital commerce more inclusive and accessible, especially for smaller merchants and retailers.

Koshy’s last day at ONDC will be 30 June.

Earlier in March, ONDC chief business officer Shireesh Joshi had exited following a three-and-a-half-year stint.

An engineering graduate from the College of Engineering in Thiruvananthapuram, Koshy secured his postgraduate diploma in management from the Indian Institute of Management Bangalore.

Before joining ONDC in February 2022, Koshy worked with EY for more than 10 years.

After his decade-long stint as a partner, he became an advisor at EY before moving to ONDC.

He also worked as executive director at National Security Depository Ltd (NSDL) for 14 years from September 1996 to January 2011.