Zomato’s Independent Director Gunjan Soni Steps Down Due To Increased Work Commitments

Foodtech major Zomato on Friday (October 11) said that its independent director Gunjan Soni has stepped down from the company’s board on account of “increased work commitments”.

In a filing with the BSE, the company said that Soni will also cease to be a member of the company’s risk management committee and corporate social responsibility committee.

It is pertinent to note that Soni is the CEO of Southeast Asia-focussed ecommerce platform Zalora. 

“… The need to step down stems from increased professional commitments and was a tough decision. I am grateful for the opportunity to have served on the board and am confident in Zomato’s management team and the company’s future direction…,” said Soni in her resignation letter. 

She added that there were “no material reasons for her resignation other than those mentioned in the resignation letter”.

Commenting on her departure, Zomato cofounder and CEO Deepinder Goyal added, “It was great to partner with Gunjan and a big thanks to her for helping us navigate through the ups and downs of the past few years. On behalf of Zomato, I want to thank Gunjan for her valuable insights and guidance that have been instrumental in our growth…”.

An alumna of XLRI Jamshedpur, she previously helmed Jabong (later acquired by Myntra) and worked with the likes of Star India and McKinsey & Company. 

The development comes at a time when the company appears to be in the middle of a major reshuffle. Just weeks after Zomato’s cofounder and chief people officer (CPO), Akriti Chopra, quit the company to “pursue other interests”. Earlier this month, Zomato roped in BookMyShow’s former live events and IP head Kunal Khambhati to bolster its ‘going out’ vertical. 

This also comes at a time when shares of Zomato are on an upswing. Zomato shares hit an all-time high of INR 298.05 during the intraday on September 23, helped by the company’s increasing profit numbers, rising revenue, strong growth of Blinklit and thumbs up from brokerages. 

Zomato reported a net profit of INR 253 Cr in the first quarter (Q1) of the financial year 2024-25 (FY25) against INR 2 Cr in the year-ago period. Meanwhile, operating revenues jumped 74% to INR 4,206 Cr in the quarter under review against INR 2,416 Cr in Q1 FY24. 

Shares of the company closed 0.85% higher at INR 277.5 on the BSE on Friday (October 11). 

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