Foodpanda India co-founder Rohit Chadda steps down as MD

Chadda has also resigned from the board, however, he will continue as a shareholder in the company

Rohit Chadda, co-founder of online food ordering and delivery firm Foodpanda India, has stepped down as managing director (MD) and has resigned form its board.

“I have personally decided to step aside from my role as MD to pursue new initiatives. I have resigned from the position from August 1,” Chadda said.

Foodpanda India was co-founded by Chadda, Amit Kohli and Akhilesh Bali in 2012 and currently has around 12,000 restaurant partners in over 200 cities in the country.

"I have also resigned from the board, however, I will continue as a shareholder in the company but will not be involved in its day-to-day operations," he added.

Asked about the new initiatives that he will pursue, Chadda said: "It will be to pursue new challenges, new opportunities. The opportunity on mobile space is huge and that is what I am after."

He, however, did not give the details about the field he would be pursuing.

Foodpanda had appointed Saurabh Kochhar as its India CEO and chief business officer of global operations in March this year. Foodpanda India is owned by Foodpanda group.

The Foodpanda group is active in over 40 countries across five continents. It started as independent startups in multiple countries across South & East Asia, incubated by the same investor - Rocket Internet.

The Foodpanda group has raised over USD 300 million in multiple rounds of funding with the last one being of USD 100 million, led by Goldman Sachs.