Rinshul Chandra, the Chief Operating Officer (COO) of Zomato Food Delivery, has left the company. His last day at the company was April 7, and Chandra resigned on April 5. He resigned and is leaving the company to pursue other opportunities.
Chandra had joined Zomato in 2018 and played a key role in expanding the food delivery business. Thanks to his efforts, the business expanded and optimized its functions. He was appointed the COO of the food delivery business in 2023 for optimizing the functions and expanding the business scale.
But his departure is coming at a time when Zomato is also grappling with its core food delivery business. Zomato has been battling declining growth and profitability, at least partially due to a slowdown in consumer spending and intense competition from other quick commerce players. These issues are not new as Zomato’s food delivery business, run by Rakesh Ranjan, has been slowing down for some time.
Zomato recently changed its name to Eternal Ltd. This name encompasses a group of its businesses, including Zomato, Blinkit, Hyperpure, and District. Even after the change in leadership, experts are still cautiously optimistic about Zomato’s future. Some still suggest that one should invest in the shares of Zomato, believing that the company has a diversified business model that can counter the problem of food delivery.
Zomato shares are likely to be in the limelight after the news of Chandra’s resignation. His resignation is at a time when the group has witnessed quite a number of senior-level resignation announcements, raising leadership stability concerns. Zomato has not yet initiated a search for a replacement for the post of COO.
As the company navigates these changes, the food delivery segment’s performance will be closely watched. Investors and market analysts will be keen to see how Zomato adapts to the evolving market landscape while managing leadership transitions.
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