Swiggy Appoints Three Independent Directors,  CEO of Delhivery, TAFE Chairperson, Veteran CA

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Swiggy has appointed Delhivery author and Chief Executive Officer Sahil Barua, TAFE Chairperson Mallika Srinivasan, and expert chartered accountant Shailesh Haribhakti as independent directors on its board. They’re the first independent directors for the food delivery unicorn. Current board members include co-founders Sriharsha Majety and Nandan Reddy, Larry Illg and Ashutosh Sharma from Prosus, SoftBank’s Sumer Juneja and Accel’s Anand Daniel. Several startups including Pepperfry, Ola, and Oyo, among others — are looking to list on the bourses and have appointed independent directors to boost commercial governance, ahead of being open to public request scrutiny.

They’re the first independent directors on Swiggy’s board and join current members A Sriharsha Majety- CEO and Co-founder of Swiggy; Nandan Reddy, Co-founder of Swiggy; Larry Illg, CEO of Prosus Edtech and Food; Ashutosh Sharma, Head of Investments- India, Prosus gambles; Sumer Juneja, Managing Partner, India and EMEA, SoftBank Investment counsels; and Anand Daniel, Partner at Accel. The recently appointed directors will work as independent directors with the principal operating officer (CEO), Sriharsha Majety, co-founder Nandan Reddy, CEO of Prosus’ Edtech and Food Larry Illg, Ashutosh Sharma, the head of investment in Prosus’ gambles India, Suner Jadeja, the managing director of India and EMEA at SoftBank Investment counsels and Anand Daniel, the mate at Accel. The company has appointed three independent directors for the first time since its  commencement. The movement came at a time when the food aggregator is preparing itself for its original Public Offering (IPO).

“Getting these new and important perspectives and strengthening our governance will immensely benefit us as we march ahead in our charge to bring  unequaled convenience to consumers,” Majety said. Swiggy has been going through a rough patch since the fiscal time ( FY) 2022. In FY22, the company registered a loss of Rs crore compared to Rs crore in FY21. Still, the company managed to earn a 2x scale in total earnings to Rs6119.8 crore from Rs 2675.9 crore. In an attempt to take some cost- cutting measures the company  later fired 380 workers and stepped into the club of Indian launch- ups that trimmed down their hand bandwidth.