Zomato denies report of food delivery CEO Rakesh Ranjan stepping down

Earlier reports claimed that Ranjan was stepping down as part of an internal reshuffle, with Zomato co-founder Deepinder Goyal expected to take interim charge

(This report has been updated)  Zomato on Thursday clarified that Rakesh Ranjan, CEO of its food delivery business, has not resigned from his position, refuting an earlier media report suggesting his departure.  The clarification comes in response to a media report, which claimed Ranjan was stepping down as part of an internal reshuffle, with Zomato co-founder and CEO Deepinder Goyal expected to take interim charge.

 

“We would like to clarify that, as on date, there has been no resignation tendered by Rakesh Ranjan and he continues to be part of the leadership team,” Eternal Group, Zomato’s parent company, said in a statement. It added that leadership reshuffles are routine at the company and form part of ongoing efforts to improve organisational effectiveness.

 

 

Eternal further noted that no material information had been disclosed internally, and any such developments, if deemed material, would be shared with stock exchanges as per regulatory requirements. The company said the present disclosure was made voluntarily.

 

The now-refuted report had stated that Ranjan, who took over the food delivery CEO role in May 2023, was exiting amid slowing growth in Zomato’s core business and increased competition from rivals like Swiggy. It also said Goyal would temporarily lead the food delivery operations until a successor was finalised.

 

 

Zomato’s food delivery division remains its largest contributor to both revenue and profits. In the December 2024 quarter, it posted a gross order value (GOV) of ₹9,913 crore — a 2 per cent quarter-on-quarter and 17 per cent year-on-year increase. Still, growth has been sluggish amid broader market headwinds.

 

The company has recently ramped up its offerings, including launching a rapid food delivery service through Blinkit to compete with similar initiatives by rivals.

 

In March, Goyal acknowledged systemic issues within the food delivery space, adding that aligning the interests of Zomato, restaurants, and customers would be key to achieving future growth.