Zomato, the food and grocery delivery platform, has announced key appointments through a regulatory filing. Rakesh Ranjan has been appointed as the CEO and Rinshul Chandra as the COO of the food ordering and delivery vertical.
The company has also named Rishi Arora as the CEO of Hyperpure, its business-to-business vertical.
Zomato’s recent appointments in its food delivery and Hyperpure verticals coincide with the company’s positive adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) excluding quick commerce. In the January-March period, Zomato reported earnings of INR 28 crore for the first time.
Zomato on Friday reported a 70% YoY jump in operational revenue for the March quarter to INR 2,056 crore. The net loss for the quarter narrowed to INR 187.6 crore, compared to INR 359.7 crore in the year-ago period.
Rakesh Ranjan was the Business Head of new businesses at Zomato, while Rinshul Chandra held the position of Vice President of product. Rishi Arora spent nearly nine years at Blinkit (formerly Grofers), initially as Senior Vice President of operations and later became a Co-founder in July of last year.
“Rakesh, Rinshul and Rishi have been with Zomato/Blinkit for more than five years across various roles. We believe that a change of leadership every now and then with capable people at the helm brings new perspectives to the business enabling it to evolve faster. Such leadership changes are also great for people development, and we are confident that our people strategy will set us up for success even decades from now,” the company said in the regulatory filing.
These appointments come in the backdrop of a series of senior-level exits at the company, including Co-founders Mohit Gupta and Gunjan Patidar, who was also the Chief Technology Officer. Additionally, senior executives Rahul Ganjoo, Head of new initiatives, and Siddharth Jhawar, Head of Zomato’s intercity delivery, also resigned late last year.
In February, Zomato’s CEO Deepinder Goyal announced that he, along with the company’s Chief Financial Officer Akshant Goyal, had assumed some of the responsibilities of the departed individuals. The remaining tasks were then delegated to other team members.
“I’m doing a bunch of things, Akshant (Goyal) has taken up a couple of things…we also have a strong bench. So, with a combination of these three, we’re good for now. So far, we can fit it into the 12-14 hours a day…it’s perfectly fine but we’re constantly on a lookout for talent,” Goyal had said.
“…we don’t have the need to fill these two spots (of Gupta and Patidar). Being in ‘continuous lookout for great talent’ is an attack tactic, not a defence tactic,” Goyal had said, on whether the company was looking to fill these vacancies with outside talent.