Aman Priyadarshi, Global Dining Business Head, Zomato, has quit the food delivery company, making him the fifth senior official to exit the company.
“Throughout my career, I have been extremely fortunate to work on things I have been deeply passionate about, which has ended me in a lot of dream-like opportunities,” Aman wrote in a LinkedIn post.
In his nearly four-year stint, Aman played several roles in Zomato, including setting up the food delivery business in Istanbul, Turkey, and managing the company’s consumer-facing app.
Now, he has joined Sequoia-backed healthtech startup Kenko Health to head its product division.
“Kenko Health is the hardest challenge I will face, and I look forward to potentially doing the best work of my career, building India’s finest consumer-internet team, and most importantly, saving lives by freeing India from its healthcare curses,” he added.
A slew of departures at Zomato has raised concerns among investors as the company continues to make losses.
Earlier in January, Chief Technology Officer Gunjan Patidar resigned from the post, sending ‘s shares tumbling down 4% on opening trade the following day.
In late-2022, three top-level executives resigned from their posts, including the Head of New Initiatives Rahul Ganjoo, and ex-Vice President and Head of Intercity Siddharth Jhawar. Further, Co-founder Gaurav Gupta exited the company after a six-year tenure.
The Gurugram-headquartered company reported a loss of Rs 260 crore in the July-September quarter last year, followed by the widely criticised acquisition of the hyperlocal grocery firm Blinkit.
Zomato’s stock is proof. On July 23, 2021, when Zomato made its debut on Indian bourses, its share price touched the day’s high of Rs 135 after opening at Rs 115 on the Bombay Stock Exchange (BSE).
From the high on listing day to the day’s low of Rs 47.5 on February 7, 2023, the stock has corrected by 68.8% in absolute terms. Notably, the stock has since had higher prices subsequent to its listing.
Since January 1, 2023, Zomato’s share price has fallen by 20.17% on the BSE. In the same period, the S&P BSE Sensex declined by 1.52%.