Rinshul Chandra, COO of food delivery at Zomato-parent Eternal, has resigned, the company said Saturday. Food delivery is the company's biggest revenue generating vertical.
Chandra had joined the company in 2018 and was elevated to the role of food delivery COO in 2023.
In the food delivery segment, which is led by Rakesh Ranjan, the company has witnessed a slowdown in growth amid broader consumption softness.
Eternal CEO Deepinder Goyal had told ET in a March interview that systemic issues in food delivery have led to the slowdown.
Over the past several months, the Gurgaon-based company has witnessed two other top-level departures.
The company's cofounder, Akriti Chopra, who was the chief people officer, quit in September. This was followed by the December resignation of Hemal Jain, who was global head of finance and CFO of B2B grocery supply unit Hyperpure.
In an email to Goyal, Chandra wrote he was resigning effective April 7 to pursue new opportunities and passions that align with my evolving personal and professional goals".
On Friday, Zomato's stock ended trading 0.1% down at Rs 210.65 on the BSE.
ET reported on April 1 that Zomato cut around 500 junior staff members from its Zomato Associate Accelerator Programme (ZAAP), launched last year. Last year, Zomato recruited around 1,500 junior employees under ZAAP for customer service roles, aiming to train them for operations, marketing, sales, and supply chain roles. The company has retained around 1,000 employees while letting go of the rest, citing performance-related concerns.
Zomato has seen a hit to its profitability amidst rising competition and increasing cash burn in the quick commerce space. For the quarter ended December 2024, the company reported a steep 57% year-on-year (YoY) fall in net profit at Rs 59 crore.
Chandra had joined the company in 2018 and was elevated to the role of food delivery COO in 2023.
In the food delivery segment, which is led by Rakesh Ranjan, the company has witnessed a slowdown in growth amid broader consumption softness.
Eternal CEO Deepinder Goyal had told ET in a March interview that systemic issues in food delivery have led to the slowdown.
Over the past several months, the Gurgaon-based company has witnessed two other top-level departures.
The company's cofounder, Akriti Chopra, who was the chief people officer, quit in September. This was followed by the December resignation of Hemal Jain, who was global head of finance and CFO of B2B grocery supply unit Hyperpure.
In an email to Goyal, Chandra wrote he was resigning effective April 7 to pursue new opportunities and passions that align with my evolving personal and professional goals".
On Friday, Zomato's stock ended trading 0.1% down at Rs 210.65 on the BSE.
ET reported on April 1 that Zomato cut around 500 junior staff members from its Zomato Associate Accelerator Programme (ZAAP), launched last year. Last year, Zomato recruited around 1,500 junior employees under ZAAP for customer service roles, aiming to train them for operations, marketing, sales, and supply chain roles. The company has retained around 1,000 employees while letting go of the rest, citing performance-related concerns.
Zomato has seen a hit to its profitability amidst rising competition and increasing cash burn in the quick commerce space. For the quarter ended December 2024, the company reported a steep 57% year-on-year (YoY) fall in net profit at Rs 59 crore.
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