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Dale Vaz, Chief Technology Officer at foodtech startup Swiggy, has tendered his resignation. Senior Vice President for consumer technology and fintech at the company, Madhusudhan Rao, will be elevated to the role of CTO, the company has confirmed.

Vaz will continue in an advisory role at Swiggy. He is currently looking to start his own venture, as per media reports.

Vaz first joined the foodtech company in 2018 as its head of Engineering and Data Science from Amazon India.

“We confirm Dale Vaz has decided to move on from Swiggy to pursue his entrepreneurial venture. He will continue in his role till May 2023 and will be associated with Swiggy for an extended period in an advisory role. We thank him earnestly for his many contributions to Swiggy,” the company said a statement responding to queries sent by YourStory. 

“Madhusudan Rao will take over as CTO. Madhu has been with Swiggy for over four years and has decades of tech leadership experience with a proven track record of understanding what our customers need,” it added. 

Vaz’s exit from Swiggy follows a recent announcement by Karthik Gurumurthy, Head of Swiggy’s grocery vertical Instamart, on taking a sabbatical. He is reported to return in a few months to lead a new initiative at the company. Meanwhile, Phani Kishan Addepalli, CEO of Swiggy-backed milk delivery vertical, SuprDail,y will lead Instamart. 

US-based investment firm and Swiggy-backer Invesco has also devalued its stake in the company—from $10.7 billion to $8 billion in October last year, as part of its filings.