Performance issues led to my ouster as Flipkart CEO, says Sachin Bansal

Zee Media Bureau

New Delhi: Flipkart's former chief executive and co-founder, Sachin Bansal, told the group's employees that even as CEO, his performance was not sans scrutiny.

Trying to allay fears of lay-offs in the company, Bansal, at a townhall meeting in Bengaluru, said that his stepping down from the position of CEO was largely 'performance' related adding that under him the company missed targets.

India's biggest e-commerce company had in January announced that  Sachin Bansal, will step down and be succeeded by its other co-founder Binny Bansal.

Flipkart sells everything from cellphones to suitcases and cosmetics, competing with home-grown rival Snapdeal and Amazon's Indian unit. Current investors include Tiger Global Management and Accel Partners.

Last month, several media reports said that Flipkart's under-performing employees -- 700-1000 in number -- will be given the option to resign or hand over the pink slip, however.

Flipkart however denied all allegations of a lay-off.

"At times, we have employees who do not meet the performance bar. In those situations, we work closely with employees to enable them improve their performance. In due course, if these employees are unable to make the desired progress, they are encouraged to seek opportunities outside the company where their skills can be better utilised," Flipkart had said.