Zomato, the prominent food delivery platform, has announced the resignation of its Chief Operating Officer, Rinshul Chandra, effective April 5, 2025. His last working day will be April 7, 2025. This move comes as part of a series of high-profile exits from the company, which has recently undergone significant changes.
In a regulatory filing with the Bombay Stock Exchange, Zomato shared Chandra's resignation letter addressed to Deepinder Goyal, the founder and CEO of the company. In the letter, Chandra expressed gratitude for his seven-year tenure at Zomato, stating, "Deepi, I am writing to resign as COO - Food Ordering & Delivery Business of Eternal Limited, effective April 7, 2025… I have decided to pursue new opportunities and passions that align with my evolving personal and professional goals."
Chandra's departure is notable as he was a key figure in Zomato's operations, having joined the company in 2018 as an assistant vice president of product. He quickly rose through the ranks, becoming the head of business at Zomato Everyday in 2022 and then taking on the role of COO for the food delivery segment in 2023.
This resignation is part of a broader pattern of executive turnover at Zomato, which has seen several high-level exits in recent months. Notably, in September 2024, Akriti Chopra, co-founder and chief people officer, resigned with immediate effect. Chopra had been with Zomato since 2011, serving in multiple critical roles, including chief financial officer prior to the company's IPO.
In December 2024, Hemal Jain, who was the global head of finance and CFO for Zomato’s wholesale food delivery division, Hyperpure, also stepped down after six years with the company. These departures come at a time when Zomato, now rebranded as Eternal, is navigating a challenging business landscape.
Recently, Zomato has been focusing on improving its profitability and restructuring its operations. The company laid off 500 employees from its Associate Accelerator Programme last month, following the launch of an AI-powered customer support platform named Nugget. This platform claims to resolve up to 80% of customer queries across Zomato, Blinkit, and Hyperpure.
The layoffs were reportedly attributed to performance-related issues and followed a period of losses in Zomato's quick commerce arm, Blinkit. According to reports, the laid-off workers were offered a month’s salary as severance, despite being terminated without a notice period.
Despite these challenges, Zomato's recent financial performance shows signs of improvement. The company reported a revenue of Rs 2,226 crore for the third quarter of FY25, up from Rs 2,151 crore in the previous quarter. Additionally, Zomato's net profit rose to Rs 494 crore in Q3FY25, compared to Rs 421 crore in Q2FY25.
On April 8, 2025, Zomato's share price increased by 2.24%, closing at Rs 214.45 per share. This uptick in stock price may reflect investor optimism as the company continues to adapt to market conditions and streamline its operations.
The rebranding of Zomato to Eternal on March 20, 2025, was part of a strategic initiative aimed at building a more enduring organization. Goyal emphasized in an interview that the company is focused on long-term sustainability and dismissed concerns regarding a potential global economic slowdown affecting its operations.
As Zomato navigates through these transitions, it remains to be seen how the leadership changes will impact its strategic direction and overall performance in the competitive food delivery market. The company has yet to announce a successor for Chandra, leaving stakeholders curious about who will take over the reins of its food ordering and delivery business.
In summary, Rinshul Chandra's resignation marks a significant moment for Zomato as it continues to evolve amidst a backdrop of executive turnover and operational restructuring. With a focus on profitability and a commitment to leveraging technology, the company aims to maintain its position as a leader in the food delivery sector.
