“I was removed as Flipkart CEO due to performance issues”, says Sachin Bansal
Sachin Bansal is an Indian Software engineer and Internet entrepreneur known for co-founding India’s e-commerce platform Flipkart. Sachin is from Chandigarh and is an engineering graduate from Indian Institute of Technology Delhi.
However, things were a bit rough for him few month’s back when he was removed as the Flipkart CEO. Flipkart co-founder Sachin Bansal made a startling disclosure that he was replaced as chief executive “because of performance,” expertly placating employees riled by recent downsizing while also making a case for the deliver-or-go culture that’s come to haunt internet companies.
India’s largest online marketplace has been buffeted this year by a series of valuation markdowns by mutual funds, several high-profile executive exits and staff reductions amid an intensifying battle with Amazon, the world’s largest online retailer.
Sachin while talking to the employees mentioned,
“Look at the top level around you. Everyone has changed. In fact, even I am gone,”
Bansal, who was replaced as CEO by cofounder Binny Bansal in January and made executive chairman after eight years at the helm, defended the company’s decision to downsize saying it was done on merit, emphasizing that the management team, too, was not spared.
Bansal’s candidness is being seen by some experts as a strategic move that could help Flipkart win back employee trust and boost morale at a time when it is preparing for the pivotal festival season that begins next month. Amazon India, with an expanded budget gifted by its US parent, is expected to outspend Flipkart in terms of marketing and discounts.