Zomato stated on Monday its co-founder and chief expertise officer Gunjan Patidar has left the agency, the newest in a sequence of exits on the Indian meals supply agency whose shares have misplaced over 57% of its worth prior to now 12 months.
Patidar is the fourth co-founder to go away the agency. His departure additionally follows exits by Mohit Gupta, one other co-founder, and two different senior executives final month.
“Patidar was one of many first few workers of Zomato and constructed the core tech methods for the Firm. Over the past ten plus years, he additionally nurtured a stellar tech management staff that’s able to taking over the mantle of main the tech operate going ahead. His contribution to constructing Zomato has been invaluable,” the Indian meals supply agency disclosed in a inventory trade submitting.
The exits come at a time when Zomato chief govt Deepinder Goyal, additionally a co-founder, is trying to share and delegate high duties with different executives. The corporate appointed 4 chief executives in August final 12 months and rebranded its inner, broader group as “Everlasting.”
Loss-making Zomato, backed by Ant Group, Temasek and Goldman Sachs, didn’t say why Patidar — or any of the opposite not too long ago departed high executives — had left.
The corporate, which went public mid-2021, reported a web lack of $30.4 million for the quarter that resulted in September final 12 months.
“Fortunately Zomato has no scarcity of co-founders in its firm. There’s Akriti Chopra, one other govt who turned co-founder final 12 months. […] Earlier this 12 months, it elevated an govt as co-founder of Blinkit (which Zomato owns) to interchange one in all Blinkit’s co-founders who left final 12 months,” Indian information and evaluation publication The Ken wrote in a e-newsletter final 12 months.
“At this level, I’m beginning to suspect there’s somebody at Zomato’s company governance staff whose full-time job is to periodically replace the doc that retains observe of who’s their co-founder proper now, during which firm.”
