Zomato Cofounder, CPO Akriti Chopra Quits

SUMMARY

Zomato said that Akriti Chopra has quit the company to pursue other interests

Chopra, who is also a senior management personnel, tendered her resignation on September 27

Chopra was elevated as the cofounder of the foodtech major in 2021 just as the company was preparing for its IPO

Foodtech major Zomato’s cofounder and chief people officer (CPO) Akriti Chopra has tendered her resignation from the company.

In an exchange filing with the BSE, the foodtech major said that Chopra quit the company to pursue other interests.

“… We would like to inform that Ms. Akriti Chopra, cofounder & chief people officer designated as senior management personnel, has tendered her resignation w.e.f. September 27, 2024,” the filing said.

An alumni of Lady Shri Ram College For Women, Chopra joined Zomato as a senior manager of finance and operations in 2011 and rose through the ranks to become the company’s chief financial officer (CFO) in 2019.

She was elevated to the role of the cofounder in 2021, just as Zomato was preparing to go public.

Chopra is also the wife of Blinkit cofounder and CEO Albinder Dhindsa. Zomato acquired the quick commerce company in 2022.

Founded in 2008 by Deepinder Goyal and Pankaj Chaddah, Zomato operates multiple verticals, including food delivery, quick commerce, B2B supplies, and going-out business. Right after Chaddah’s departure from the company in 2018, three other senior executives – Gaurav Gupta, Gunjan Patidar and Mohit Gupta – were elevated to the role of cofounder.

While Gaurav Gupta resigned in 2021, Gunjan Patidar and Mohit Gupta left in 2023 and 2022, respectively. With Chopra’s departure, CEO Deepinder Goyal is the only remaining cofounder at the foodtech major.

The latest development comes at a time when shares of Zomato are on an upswing. The stock hit an all-time high of INR 298.05 during intraday trading on the BSE on September 23. The surge has come on the back of the company’s increasing profit numbers, rising revenue and strong growth of Blinklit.

Zomato clocked a net profit of INR 253 Cr in the quarter ended June 2024 as against INR 2 Cr in the year-ago period. Meanwhile, operating revenues also jumped 74% to INR 4,206 Cr in Q1 FY24 as against INR 2,416 Cr in Q1 FY24.

Shares of the company closed 1.97% lower at INR 278.25 on the BSE on Friday (September 27).