Rakesh Ranjan, who was appointed as the CEO of Zomato’s food delivery segment in May 2023, has stepped down from his role as part of an internal leadership reshuffle. While Ranjan will continue to serve the company in a different capacity, Deepinder Goyal, Zomato’s founder and group CEO, will temporarily oversee the food delivery vertical until a permanent replacement is finalised.
The decision comes amid a slowdown in the food delivery sector and increasing competition from rivals like Swiggy, which captured 43% market share in the October–December quarter. Analysts have raised concerns about Zomato potentially losing ground as competitors expand rapid delivery services.
In response, Zomato has introduced its own quick delivery option through Blinkit, its commerce platform, and integrated it into the main app. However, this move has drawn criticism from the restaurant community.
Despite the festive-heavy October–December quarter, Zomato’s food delivery growth remained subdued, with Gross Order Value (GOV) rising just 2% sequentially to ₹9,913 crore, though it marked a 17% year-on-year increase.
In a March interview, Goyal acknowledged systemic issues in the food delivery business, stating, “Once we solve these, the interests of Zomato, restaurants, and customers will align towards growth.”
The reshuffle reflects Zomato’s efforts to address these challenges and optimize its leadership structure for future growth.
The decision comes amid a slowdown in the food delivery sector and increasing competition from rivals like Swiggy, which captured 43% market share in the October–December quarter. Analysts have raised concerns about Zomato potentially losing ground as competitors expand rapid delivery services.
In response, Zomato has introduced its own quick delivery option through Blinkit, its commerce platform, and integrated it into the main app. However, this move has drawn criticism from the restaurant community.
Despite the festive-heavy October–December quarter, Zomato’s food delivery growth remained subdued, with Gross Order Value (GOV) rising just 2% sequentially to ₹9,913 crore, though it marked a 17% year-on-year increase.
In a March interview, Goyal acknowledged systemic issues in the food delivery business, stating, “Once we solve these, the interests of Zomato, restaurants, and customers will align towards growth.”
The reshuffle reflects Zomato’s efforts to address these challenges and optimize its leadership structure for future growth.
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