The Chief Executive Officer (CEO) of Open Network for Digital Commerce (ONDC) has reportedly stepped down from his position after years of stint.
According to a report, ONDC CEO Thampy Koshi’s final day at the company is June 30, 2025. The report mentioned that the board has no immediate plans to find Koshy’s replacement.
On Koshy’s exit, ONDC said that the CEO expressed a desire to step down while helping with the change.
His responsibilities have been transitioned to an executive committee. However, Koshy will be available to the board for advice over the next three months.
This latest development has come after ONDC’s chief business officer (CBO) Shireesh Joshi resigned in March this year citing personal reasons. Notably, RS Sharma, the non-executive chairperson of ONDC, resigned in December 2024 after after serving for four months.
ONDC, the government-backed initiative has crossed 200 million transactions on its network since its launch in September 2022. However, its retail segment, which includes food delivery and e-commerce, witnessed a drop in orders following the cut in financial incentives to sellers and customers.
The retail transaction reduced to 4.6 million in February 2025 from 6.5 million in October 2024.
Initially, ONDC provided financial incentives to onboard sellers, drive transactions, and fund customer discounts. Later, the network slashed the monthly cap on these incentives from Rs 3 crore in July 2024 to Rs 30 lakh at present.
ONDC has been formed to create an open and inclusive digital commerce ecosystem in the country. The network hosts several buyer and seller apps across segments, such as Paytm, Ola, Delhivery, etc.