Zomato food delivery CEO Rakesh Ranjan resigned? Deepinder Goyal’s firm says, ‘There has been…’
Rakesh Ranjan became the CEO of Zomato’s food delivery division in May 2023. Zomato’s food delivery segment is the company’s biggest contributor to both revenue and profits.
Hours after reports emerged that Rakesh Ranjan, the CEO of its food delivery business, had resigned, the Eternal (Zomato) has refuted such reports. The Deepinder Goyal-led company issued a statement after a media report claimed that Ranjan was stepping down as part of a leadership reshuffle, with Zomato’s co-founder and CEO Deepinder Goyal expected to take interim charge. Zomato’s parent company, Eternal Group, announced that as of now, Ranjan has not submitted any resignation and continues to be part of the leadership team, IANS reported. Ranjan became the CEO of Zomato’s food delivery division in May 2023.
“We would like to clarify as on date, there has been no resignation tendered by Mr. Rakesh Ranjan and he still continues to be part of the leadership team,” the company said in its stock exchange filing. The online food platform added that leadership changes are a regular part of their efforts to improve the organisation’s effectiveness. “At Eternal Group, internal reshuffling of the leadership team is considered a standard practice as part of the Company’s ongoing efforts to optimise organisational effectiveness,” it added in its filings. This clarification, the company said, was being shared voluntarily to avoid confusion.
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Eternal Group also clarified that no significant internal information has been shared officially, and if anything important arises, it will be disclosed to the stock exchanges as per the rules. Earlier, a media report had mentioned that Ranjan was exiting the company amid slowing growth and rising competition from rivals like Swiggy. It also claimed that Goyal would lead the food delivery business temporarily until a replacement was found.
Zomato’s food delivery segment is the company’s biggest contributor to both revenue and profits. Currently, the company has a market cap of Rs 2.15 lakh crore. In the December 2024 quarter, the company posted a gross order value (GOV) of Rs 9,913 crore — a 2 per cent rise from the previous quarter and a 17 per cent increase compared to the same period last year.
(With inputs from IANS)
