Zomato’s head of new initiatives Rahul Ganjoo quits

Rahul Ganjoo, head of new initiatives at Zomato, has resigned from his post according to the company’s regulatory filings after a five-year stint. “We wish to inform you that Mr. Rahul Ganjoo, Head of New Initiatives at the Company has tendered his resignation today,” the company shared.
 
Ganjoo joined the food tech company in August 2017 as head of product management. In October 2020, he was elevated to the position of the Co-CEO of food delivery. Four months ago, he started heading the new initiatives vertical. 
 
Ganjoo's resignation comes a week after another senior executive, Siddharth Jhawar, announced his exit from the company on the professional networking app, LinkedIn. He was the vice president of global growth and he quit the company to join California-based adtech start-up, Moloco.
 
Jhawar said that he would be building and leading the India operations for the firm.  
 
On November 10, Zomato announced its Q2 results for FY2023. Its consolidated revenue for the quarter (July-August-September) surged 62.20 per cent to Rs 1,661.30 crore from Rs 1,024.20 crore in the corresponding quarter last year.

Moreover, in the earnings call, Founder and CEO, Deepinder Goyal highlighted that the food delivery business has been growing and steadily moving towards profitability.
 
However, the company which made its debut on the stock market last year reported a consolidated net loss of Rs 250.80 crore for the September quarter, higher than June quarter’s Rs 186 crore loss. 

Talking about the future plans, Goyal said, "The restaurant and food delivery industry in India is still nascent and we need to relentlessly execute to tap into the large opportunity."

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