Food ordering and delivery app has appointed Anand Kripalu, Managing Director and Global Chief Executive Officer of packaging firm EPL Limited, as an independent director and chairperson of the board, as it gears up for a public listing.
Kripalu has over 40 years of experience in the FMCG (fast-moving consumer goods) space He was previously the MD and CEO of alcohol beverage company Diageo India and has held various leadership positions in consumer goods firms including Unilever and Mondelez India (formerly Cadbury).
“… I am honoured to join its (Swiggy’s) accomplished board, and look forward to lending my experience and perspective as Swiggy shapes the future of convenience,” Kripalu said in a statement on Wednesday.
Speaking about the new appointment, Sriharsha Majety, Group CEO of Swiggy, said: “I’m pleased to have Anand Kripalu join as an independent director and chairperson of the Swiggy board. Anand is a veteran in the consumer goods industry, and his deep knowledge and perspective will be instrumental in guiding Swiggy as we continue to innovate and redefine the on-demand delivery landscape in India.”
The Bengaluru-based on-demand convenience platform has been making several changes in preparation for its initial public offering, which is slated to take place between July and September next year, as per a Reuters report.
In February, Swiggy appointed Mallika Srinivasan (Chairman and Managing Director of TAFE), Shailesh Haribhakti (Chairman of Shailesh Haribhakti and Associates), and Sahil Barua (Managing Director and CEO at Delhivery) to its board as independent directors.
Last week, Prosus—one of Swiggy’s earliest and biggest backers—said in its annual report that the startup’s food delivery business grew 17%, delivering a gross merchandise value of $1.43 billion in the first six months of the year. This was led by a rise in transacting users that drove double-digit order growth and inflation in average order value, according to the Netherlands-based investor.
This came months after the company turned profitable for the first time in March since its launch in 2014, around the time that rival Zomato reported a profitable quarter.
Edited by Megha Reddy
