Food delivery giant Swiggy’s COO Vivek Sundar will step down from his role by October and resign from the organisation. The reason behind this move was that according to a report in Moneycontrol, Sundar wants to take a different path in his professional and personal life.
According to the report, which used an internal company mail, it was revealed that Swiggy’s founder and current CEO, Sriharsha Majeti, will step down as interim COO until the company finds a suitable candidate to fill Sundar’s shoes. Would find it company. According to a memo obtained by Moneycontrol, Majety will be overseeing trading in the market with immediate effect and these discussions seem to have been going on within the company for some time over the past few weeks.
Majetti elaborated on Sundar’s role in the company over the past three years and the expansion and expansion Sundar has done for Swiggy. Sundar was instrumental in expanding the reach of the business to over 500 cities across the country and kept things afloat during the trying times. covid-19 pandemic And the upcoming lockdown.
as Swiggy begins his search for his next COO, the next candidate will have a lot to live for as Sundar is a seasoned veteran in the Fast-Moving Consumer Goods (FMCG) sector having more than 23 years of work experience in the industry . Prior to his three-year stint at Swiggy, he worked with Procter & Gamble (P&G) for nearly 20 years, where he held the position of Managing Director of the East/Equatorial African Division of Kenya, Ethiopia, Uganda, Tanzania. and Angola to name a few.
He certainly climbed through the ranks as he considered starting his career as an accounting manager at P&G in 1998. Sundar is also a graduate of the Indian Institute of Management, Calcutta (IIMC), an MBA in Marketing, Economics and Finance.
Swiggy recently raised $800 million through investors, bringing its valuation to $5 billion after its Series J round of funding. The investors who played a major role in this round were Amansa Holdings, Carmignac, Falcon Edge Capital, Goldman Sachs and Think Investments. As the rivalry between Swiggy and zomato As the latter looks to file its IPO, Swiggy is anticipating a significant investment from SoftBank, which will invest about $450 million, bringing the valuation to $5.5 billion.
read all Breaking Newshandjob today’s fresh news and coronavirus news Here
.