Co-founder and Head of Supply Gaurav Gupta quits Zomato
By MYBRANDBOOK
The exit of Gaurav Gupta, a Co-Founder and Head of Zomato, has led to much discussion. Chief Executive Officer Deepinder Goyal confirmed Gupta’s exit in a blog post.
In his exit email, Gupta said he was taking a “new turn” in life and would be starting a “new chapter” after six years at Zomato.
Gupta said in the email, “We have a great team now to take Zomato forward and it’s time for me to take an (alternative) path in my journey. I am very emotional as I write this and don’t think any words can do justice to how I am feeling right now.”
In response to the letter, Goyal said, “Thank you GG (Gaurav Gupta) for everything you have helped Zomato achieve over the last few years. We have seen Zomato through great as well as terrible times together, and brought it here today. There’s so much of our journey still ahead of us, and I am thankful that you are hanging your boots at a point where we have a great team and leadership to carry us forward.”
Shriram Subramanian, Founder and Managing Director at proxy advisory firm and independent governance analysis firm InGovern Research Services, said, “Gaurav Gupta’s quitting should be seen as a senior-level exit. From a governance perspective, it doesn’t matter that he was a co-founder or not. Because it has happened so close to the initial public offering (IPO), it is generating interest.”
Gupta was Chief Operating Officer in 2019 when Zomato named him co-founder. He was the company’s point person for interactions in its Rs 9,375 crore IPO listing.
He joined the company in 2015 as business head, table reservations, and held the position of head of global advertising sales and president, large enterprise accounts, before he was named chief operating officer in 2018.
Gupta, an Indian Institute of Technology and Indian Institute of Management graduate, worked at AT Kearney before joining Zomato. His departure comes at a time when Zomato is shuttering its businesses in grocery delivery and the dietary supplements business.
In its first quarterly results after its listing in July, Zomato said its net loss widened in the first quarter due to increased expenses and a hit on dining out as the second wave of Covid-19 hit the country.
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