Zomato co-founder & CPO Akriti Chopra resigns

Online food delivery platform Zomato Ltd's co-founder and chief people officer (CPO) Akriti Chopra resigns to pursue other interests, according to the company's Bombay Stock Exchange (BSE) filing on Friday, September 27.

“We would like to inform that Ms. Akriti Chopra, CoFounder & Chief People Officer designated as Senior Management Personnel (“SMP”), has tendered her resignation w.e.f. September 27, 2024,” said Zomato in its exchange filing.

Zomato stated that the co-founder is going “to pursue other interests,” with effect from Friday, as per its BSE filing.

Zomato Ltd's shares closed 1.97 per cent lower at ₹278.25 after Friday's market session, compared to ₹283.85 at the previous market close.

Chopra has been with the company for 13 years and has played a major role in setting up and scaling the food delivery giant's legal and finance teams with her previous role as the Chief Financial Officer (CFO) for the company, as per a PTI report.

Prior to joining Zomato, she was working with PWC for three years, according to the co-founder's LinkedIn profile.

Another of Zomato's senior-level executives, Gunjan Patidar, former Chief Technology Officer (CTO) of the company, resigned in January 2024 after a decade-long run in the company, as per the report. In November 2022, co-founder Mohit Gupta resigned, Gupta was promoted to co-founder level in 2020 from the position of CEO of its food delivery business, according to the agency report.

Mint reported earlier that Zomato's stock has surged 369 per cent over the past two years, with nearly 200 per cent of that surge happening in just the last year alone. The online food delivery platform's stock remained in green every month since April last year, with May 2024 being the only exception to its steady climb.

Several global brokerage firms, including JPMorgan, CLSA, and Jefferies, raised their target prices for the stock and expressed their positive views on its quick commerce business, Blinkit.