Top-Level Exits Continue At IPO-Bound Swiggy; Now, Instamart’s VP Sidharth Satpathy Steps Down

In another top-level departure at Swiggy, Sidharth Satpathy, vice president at the food delivery giant-owned Instamart, has stepped down from his role after over a four-year stint.

Satpathy’s position will be taken over by the former head of performance marketing at Amazon India, Anirban Roy, starting this week.

Satpathy, who joined Swiggy as an AVP in June 2019 before being promoted to VP in July 2021, took to LinkedIn to inform about his exit.

“Anirban Roy will be taking over my role in Instamart effective this week as I start my next stint – Back in CPG industry from Monday (15 January 2024) onwards,” Satpathy said in the post.

Prior to joining Swiggy, Satpathy was associated with firms such as Reckitt, Marico, Johnson & Johnson, among others.

Satpathy’s departure follows the exit of senior SVP Karthik Gurumurthy, who built Swiggy Instamart and left two months ago to launch his venture, Convenio. Meanwhile, Swiggy has roped in former Amazon executive Dipak Krishnamani to fill Gurumurthy’s position. 

Satpathy’s departure comes at a time when the food major has been hit by a slew of senior-level exits. In September last year, senior vice president of growth and revenue Anuj Rathi resigned and later joined Jupiter Money. Around the same time, another senior executive of Swiggy Instamart, Nishad Kenkre, also put down his papers. 

Before this in May, vice president and head of brand and product marketing Ashish Lingamneni also bid adieu to the company. 

In April, Swiggy’s chief technology officer (CTO) Dale Vaz quit to start his startup, which eventually secured funding from Accel and Elevation Capital.

The Bengaluru-based food delivery startup is also preparing for a potential public listing in 2024 to join its rival Zomato on the bourses.

The startup reported a consolidated loss of INR 3,629 Cr in FY22 on revenue of INR 5,704.9 Cr.