Setback for Swiggy as Co-founder Nandan Reddy Exits

Another co-founder of the online food delivery platform Swiggy, Nandan Reddy, is set to step down from the company. Swiggy was founded in August 2014 by Sriharsha Majety, Rahul Jaimini and Nandan Reddy. In 2020, Rahul Jaimini exited the company to start his own venture, Pesto Tech, and now Nandan Reddy is following a similar path. Sources indicate that he intends to focus on building a new startup. Currently, Sriharsha Majety continues to serve as the Group CEO of Swiggy.

Meanwhile, changes are also expected in Swiggy’s board structure. Prosus, which holds over 20% stake in the company, plans to reshuffle its nominee directors. Roger Clarke Rabalius has resigned from his position and Renan de Castro Alves Pinto will take his place. The company is also considering expanding its board. Phani Kishan Addepalli, who joined Swiggy in 2015 and was elevated to co-founder in July 2021, is currently serving as Chief Growth Officer. He, along with Chief Financial Officer Rahul Bothra, is expected to join the board, subject to shareholder approval.