Zomato Ltd’s co-founder and Chief People Officer (CPO), Akriti Chopra, has resigned to pursue other interests, as announced in the company’s filing with the Bombay Stock Exchange (BSE) on September 27, 2024.
The company stated, “We would like to inform that Ms. Akriti Chopra, Co-Founder & Chief People Officer designated as Senior Management Personnel (SMP), has tendered her resignation effective September 27, 2024.” Chopra has been integral to Zomato’s growth over her 13-year tenure, significantly contributing to the establishment and expansion of the food delivery platform’s legal and finance teams, particularly during her previous role as Chief Financial Officer (CFO).
Before her time at Zomato, she worked at PwC for three years, according to her LinkedIn profile. Chopra’s departure follows a series of leadership changes within the company; Gunjan Patidar, the former Chief Technology Officer (CTO), resigned in January 2024 after a decade, and co-founder Mohit Gupta stepped down in November 2022.
Following the announcement, Zomato’s shares fell by 1.97% to ₹278.25, down from ₹283.85 at the previous close. Despite this, Zomato’s stock has seen a remarkable rise of 369% over the past two years, with a substantial portion of that growth occurring in the last year. Several global brokerage firms, including JPMorgan, CLSA, and Jefferies, have increased their target prices for Zomato stock, highlighting positive sentiments regarding its quick commerce business, Blinkit.
