Food delivery firm Zomato's co-founder Mohit Gupta resigns – Business Today

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Gurugram-headquartered food aggregator firm Zomato Ltd said on Friday its co-founder, Mohit Gupta, had resigned after about five years at the company.
Gupta is credited with building Zomato’s food delivery operations from scratch and was the segment’s chief executive before being elevated to co-founder in May 2020.
“I remain a long only investor in Zomato,” said Gupta in his farewell note. 
“Four and a half years ago I joined Deepi (Deepinder Goyal) & this band of crazies trying to build the best food tech company in the country, I dare say the world. In this period, we brought our food delivery business back from the brink, survived crazy competition, the pandemic, and became a large and profitable business (as unlikely as it seemed at the beginning). The journey to build a world class tech business out of India, for India (and then maybe the world) is still on, just 1% done,” said Gupta in his note.
Gupta also said that he was stepping down to pursue “unknown adventures”.
His resignation follows that of the company’s deputy chief financial officer, Nitin Savara, who stepped down in August.
“You have done a tremendous job here, brought us back from the brink of extinction, scaled the business to new heights, got us to profitability, and above all, coached me over the years to become capable of running such a large and complex business. Thanks to you, I feel confident that I can continue to build on top of your legacy and build a bigger and better company going forward,” said CEO Deepinder Goyal in reply to Gupta.
“We would further like to submit that Mr. Mohit Gupta was not designated as key managerial personnel under the Companies Act, 2013 and the Listing Regulations. Hence, this disclosure is being made voluntarily,” said Zomato in a stock exchange filing.
On Friday, Zomato’s scrip on BSE closed 0.7% lower at Rs 67.20.
Among other recent top exits at Zomato were Rahul Ganjoo, new initiatives head and former food delivery chief and Siddharth Jhawar vice president of global growth.
ALSO READ: Zomato’s head of new initiatives Rahul Ganjoo quits
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