Zomato, one of India’s top online food delivery platforms, recently rebranded as “Eternal”, is making headlines again, but this time it’s not for a new product launch or market expansion. The buzz is centered around a major leadership shake-up: Rinshul Chandra, the company’s Chief Operating Officer (COO) for Food Ordering and Delivery, has officially resigned.
The news was confirmed in a regulatory filing with the Bombay Stock Exchange (BSE) on April 5. Chandra, who joined Zomato in 2018, spent seven impactful years helping build and scale the company’s food delivery arm. In his farewell letter to Zomato founder and CEO Deepinder Goyal, Chandra said, “I have decided to pursue new opportunities and passions that align with my evolving personal and professional goals.”
Chandra’s departure marks the end of an era, especially considering the central role he played in Zomato’s rise as a food delivery giant across India. Despite the sudden nature of the announcement, there is no official word yet on who will take over his role.
This development comes at a time when Zomato shares have been notably volatile. Earlier this year, the company’s stock took a 12% dip after it reported a steep 57.2% fall in net profit for the December quarter. The drop was attributed largely to its aggressive expansion into quick commerce through its Blinkit service.
However, March brought a silver lining. Shares bounced back, climbing over 4% during a brief rally, even as legal uncertainties around some of its services loomed in the background.
Now, with a key leader stepping down and the company undergoing a major brand transformation, investors are keeping a close eye on what comes next. Will Eternal manage to maintain its growth momentum? Or will this leadership exit create a gap too large to ignore?
Key Takeaways
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Rinshul Chandra, COO of Food Delivery at Zomato (now Eternal), has resigned.
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He served the company for 7 years and was pivotal to its delivery business success.
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No successor has been announced yet.
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Zomato shares remain volatile amid leadership shifts and market expansion costs.
