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Hospitality major OYO’s global chief marketing officer (CMO) Rohit Kapoor has reportedly resigned from the startup, and is likely to take up a senior position at foodtech major Swiggy.

“Kapoor has already resigned from OYO and is currently serving [his] notice period..He’s likely to be relieved from his responsibilities at OYO by August,” Entrackr quoted a source as saying.

The report said that Kapoor is in advanced talks to join Swiggy in a senior position. “Kapoor is likely to join the foodtech unicorn if nothing changes at the last moment,” another source was quoted as saying

Another report claimed that Kapoor would join Swiggy as the CEO of its food delivery business.

Kapoor’s resignation comes after a 44-month stint at the hospitality unicorn. He joined the Gurugram-based startup in December 2018 as chief executive officer (CEO) of the new real estate business, and was elevated to the role of CEO of India and South Asia a year later. 

In April this year, Kapoor was promoted to his current role of OYO’s global CMO. Back then, Ankit Tandon took over as the CEO of Southeast Asia with a specific focus on Indonesia and the Middle East region, while Ankit Gupta was elevated as the CEO of India operations.

Kapoor’s resignation comes at a time when OYO is witnessing a change in fortunes after a pandemic lull. While the pandemic wreaked havoc on the business, the hospitality major claimed that it grew 5X in May this year and added over 1,250 corporate clients in the three-month period of March-May 2022.

Last month, Inc42 reported that the hospitality chain is looking to list around the festive season of Diwali and slashing its initial public offering (IPO) to $800 Mn from the earlier planned $1.2 Bn.

Volatile market conditions and adverse investor sentiment has forced the company to reduce its IPO size, according to sources.