Swiggy’s Company Secretary And Compliance Officer M. Sridhar Steps Down

Swiggy’s Company Secretary And Compliance Officer M. Sridhar Steps Down

SUMMARY

M. Sridhar stepped down citing personal reasons

His tenure with the company will end on February 17, according to a BSE filing

It is pertinent to note that Sridhar is resigning within a year of being appointed by Swiggy

Foodtech major Swiggy’s company secretary and compliance officer M. Sridhar has stepped down from his position, citing personal reasons.

He put down his papers on January 29 and his tenure with the company will end on February 17, according to a BSE filing.

It is pertinent to note that Sridhar is resigning within a year of being appointed by Swiggy. His tenure at the company began in February 2024 and he secured this position in April 2024.

Prior to this, he was associated with Himatsingka Seide Limited, Prestige Estates Projects Limited, Shyamaraju & Company (India) Private Limited, GMR Energy Limited, S&S Power Switchgear Limited, Teledata Marine Solutions Limited, and Peerless Securities Limited.

“I extend my heartfelt and sincere thanks to the board of directors, chief financial officer, senior management, superiors and colleagues for their support and utmost co-operation extended during my tenure as the company secretary & compliance officer,” the resignation letter said.

The development comes at a time when Swiggy recently allotted 2.61 Cr equity shares under its various employee stock option (ESOP) schemes. 

A few weeks back the foodtech major received approval from the Ministry of Corporate Affairs (MCA) to incorporate its sports arm, Swiggy Sports Private Limited.

Around the same time, the company also expanded its quick commerce vertical Instamart to 76 cities across India. Additionally, it is looking to launch a separate app for the quick commerce offering. The move follows Swiggy’s recent launches, including SNACC for 15-minute food delivery and Pyng for professional services.

The startup also launched ‘Swiggy Serves’ in an effort to reduce food wastage across its value chain. Under this initiative, the company plans to redistribute surplus food from its restaurant partners to underserved communities.

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