SOURCE : NEW18 NEWS
Last Updated:April 24, 2025, 09:32 IST
Zomato’s shares will be in focus as CEO Rakesh Ranjan steps down. Deepinder Goyal will lead food delivery operations temporarily.
Zomato’s food delivery CEO Rakesh Ranjan steps down.
Zomato share price: Zomato’s (Eternal’s) shares slid 1.50 per cent intraday on Thursday. The scrip was trading at Rs 235.23 apiece, as compared to the previous close at Rs 239.24 apiece. It came after a business rejig in which Rakesh Ranjan, chief executive officer of the food-tech company, stepped down from the role. According to the reports, CEO Deepinder Goyal will lead food delivery operations for the time being in the coming months until someone has been appointed as a replacement.
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Ranjan To Stay With Zomato
Ranjan, who took over as CEO in June 2023, will stay with the company but transition away from his current duties. According to sources, this move is part of Zomato’s routine leadership realignment, which the company undertakes every few years.
Under Ranjan’s direction, Zomato strengthened its position as a leader in India’s competitive food delivery market. However, the industry is currently facing challenges, with both Zomato and its competitor Swiggy dealing with fluctuating market shares and an overall slowdown in demand.
“This slowdown began in the latter half of November,” Ranjan mentioned in a January 20 letter to shareholders detailing quarterly results.
This leadership change comes on the heels of another recent departure—that of Rinshul Chandra, the chief operating officer of the food delivery unit, who resigned earlier this month.
