Zomato co-founder Pankaj Chaddah on Thursday announced that he was quitting the Indian restaurant search company. Chaddah said on Twitter that he would “play an active role” in the firm till the end of March.
Chaddah told employees in a letter that he will take a break for a few months and then try to start a new venture, The Times of India reported. Deepinder Goyal, Zomato’s other founder, said in a blog post that Chaddah will remain on the company’s board of directors.
Chaddah quit on the day the food delivery firm raised $150 million (around Rs 977 crore) from Alibaba’s financial service arm Ant Financial Services Group. He will retain his stake in Zomato, which stands at 3.11%, or about Rs 237 crore, according to The Economic Times.
Meanwhile, Zomato has shuffled its top management. It has appointed Mukund Kulashekaran, who was the global business head of online ordering, the new chief business officer. The new chief operating officer is Gaurav Gupta. He was previously the global head for advertising sales.