Zomato Elevates Rakesh Ranjan As Food Delivery CEO

Zomato elevates Rakesh Ranjan as food delivery CEO

Zomato

Headquarters: Gurugram, Haryana, India
Founded: July 2008; 14 years ago
Number of employees: 5,000+
Subsidiaries: Blinkit
Traded as: BSE: 543320; NSE: ZOMATO
Owners: Info Edge, Ant Group, Alipay
Founders: Deepinder Goyal, Pankaj Chaddah, Gunjan Patidar, Akriti Chopra

Zomato, the online food delivery platform, has announced changes to its senior leadership team following the release of its better-than-expected quarterly results for Q4 FY23. The company disclosed in a filing to the Bombay Stock Exchange that Rakesh Ranjan has been appointed as the CEO of the food ordering and delivery business, while Rinshul Chandra has taken on the role of COO for the same division.

In addition, Zomato has named Rishi Arora as the CEO of Hyperpure, a subsidiary of the company. Previously, Ranjan served as the business head of new businesses at Zomato, Chandra held the position of vice president of product, and Arora was the senior vice president of operations at Blinkit, a quick commerce platform owned by Zomato, before becoming its co-founder last year.

According to the regulatory filing, “Rakesh, Rinshul, and Rishi have been with Zomato/Blinkit for more than five years in various capacities. We believe that periodically changing leadership with capable individuals at the forefront brings fresh perspectives to the business, allowing it to evolve more rapidly. Such leadership changes also promote personnel development, and we are confident that our people strategy will pave the way for our success even in the coming decades.”

Regarding the quick commerce sector, while there is still progress to be made in terms of improving margins, Zomato expressed satisfaction with the outcomes achieved within a relatively short period of time. In Q4 FY23, the company introduced a delivery charge for orders below a specific minimum value, resulting in some churn among restaurants ordering from Hyperpure.

“Although the number of unique billed restaurants decreased from 44,000 in Q3 to 42,000 in Q4, the overall profitability of the business improved as a result,” stated the company in its letter to shareholders.

The revamped senior leadership team at Zomato is expected to bring fresh perspectives and accelerate the company’s evolution, which can potentially help the platform achieve its long-term success. With Rakesh Ranjan as CEO of the food ordering and delivery business, Rinshul Chandra as COO, and Rishi Arora leading subsidiary Hyperpure, Zomato aims to leverage their expertise to drive innovation and growth.

The new leadership appointments reflect Zomato’s commitment to staying ahead in the competitive online food delivery market and adapting to evolving customer needs. By bringing capable individuals to the helm, Zomato anticipates that the change in leadership will positively impact its business strategies, enabling the company to thrive and maintain its position as a leading online food delivery platform.