Sachin Bansal says was removed as Flipkart CEO because of under-performance

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Bengaluru | Updated: August 23, 2016 6:49:43 AM

Flipkart co-founder Sachin Bansal, in a candid admission, has said that he had to move on as the CEO of the e-commerce major, a position he held for eight years, as his performance was not up to the mark.

“Our performance metrics are freely shared to encourage a collaborative environment. People are allowed to hold the leadership accountable for business and organization metrics. We believe this leads to an environment of trust, openness and respect and is one of the building blocks for our organisation of the future,” Flipkart stated on Monday. (Source: Reuters)“Our performance metrics are freely shared to encourage a collaborative environment. People are allowed to hold the leadership accountable for business and organization metrics. We believe this leads to an environment of trust, openness and respect and is one of the building blocks for our organisation of the future,” Flipkart stated on Monday. (Source: Reuters)

Flipkart co-founder Sachin Bansal, in a candid admission, has said that he had to move on as the CEO of the e-commerce major, a position he held for eight years, as his performance was not up to the mark.

These remarks were made by Sachin Bansal during a townhall meeting with the Flipkart employees last week and came at a time when the home-grown e-commerce major has been under certain internal pressures like exits of key executives. Sachin Bansal admitted that his performance as the CEO did not meet their own standards and also saw some of its marketshare grabbed by its fierce rival Amazon.

“Our performance metrics are freely shared to encourage a collaborative environment. People are allowed to hold the leadership accountable for business and organization metrics. We believe this leads to an environment of trust, openness and respect and is one of the building blocks for our organisation of the future,” Flipkart stated on Monday.

The townhall meeting also had an elaborate discussion on the strides made by Flipkart in its business. Sachin Bansal was elevated as chairman of Flipkart in January this year and his co-founder Binny Bansal took over as the CEO. Flipkart has also faced increased competitive threat from its rival Amazon, which has been gaining stronger traction in terms of app downloads.

The meeting also discussed how Flipkart could increase the speed of customer deliveries, improving product quality and maintaining a lead over competition. To combat the current competition, the e-commerce major recently introduced the Flipkart Assured programme which promises delivery of high quality products in the fastest time possible.

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