Snapdeal’s logistics arm COO Vijay Ghadge quits
- Delhi doesn’t have state-like powers, Centre tells Supreme Court
- Gujarat elections: Congress seals seat-sharing deal with Chhotu Vasava’s party
- Why companies should recruit more women
- Canara Bank gets board nod to sell stakes in AMC, housing finance units
- Banks ask Sebi to clearly define loan default in revised guidelines
New Delhi: Vijay Ghadge, chief operating officer (COO) of Snapdeal.com’s in-house delivery arm Vulcan Express, has stepped down from his post less than five months after joining the company. He was previously the COO of e-commerce logistics firm GoJavas, in which Snapdeal (promoted by Jasper Infotech Pvt. Ltd) holds a 42% stake.
“Vijay Ghadge has decided to move out of Vulcan due to some personal exigencies. The change is effective immediately,” according to an email sent by Vulcan’s CEO office to the firm’s employees. Mint has seen a copy of the email.
Confirming the development, Ghadge said he was taking a six-month sabbatical, without divulging any further reason for his decision.
Snapdeal confirmed the development.
Ghadge’s exit comes at a time when Snapdeal, along with rivals Flipkart Online Services Pvt. Ltd and Amazon India, is strengthening delivery capabilities across the board.
The e-commerce company recently opened six logistics hubs in the national capital region, Lucknow, Hyderabad and Kolkata, taking the total number of Vulcan-run warehouses to 10, Mint reported in August.(bit.ly/2f6Xp2T)
Snapdeal is also undertaking a scale-up exercise at Vulcan and has started its own with last-mile delivery.
Last year, it invested Rs120 crore and Rs117 crore in March and October, respectively in Gojavas, becoming the single largest shareholder in the last-mile logistics company.
The infusion happened amid talks of a complete takeover by Snapdeal, which did not happen.
Gojavas later ran into losses and temporarily halted operations in August this year, as Snapdeal diverted orders to Vulcan and Jabong was bought by Flipkart, resulting in a huge loss of business. Snapdeal and Jabong together accounted for more than 80% of GoJavas’ overall business.