Foodtech major and grocery delivery start-up Swiggy said it has appointed former Diageo India managing director and chief executive, Anand Kripalu, to its board as an independent director and chairman of its board.
The appointment comes after Swiggy had also appointed three independent directors ahead of its planned IPO in 2024. Delhivery founder and CEO Sahil Barua, TAFE chairman and managing director Mallika Srinivasan and Shailesh Haribhakti & Associates chairman Shailesh Haribhakti were brought in as independent directors in February.
Kripalu’s experience from working at large consumer companies such as Unilever, Cadbury PLC, Mondelez and Marico and spirits maker Diageo, will help Swiggy leverage his expertise in the industry.
Instamart push
This appoitment comes at a time when Swiggy is trying to bolster Instamart, its quick-commerce arm.
“Swiggy has transformed food and grocery delivery in the country, bringing unparalleled convenience to millions of homes. I am honoured to join its accomplished board, and look forward to lending my experience and perspective as Swiggy shapes the future of convenience,” Kripalu said in a statement.
“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,” said Sriharsha Majety, Group CEO of Swiggy.
Swiggy is gearing up for a mega IPO in 2024 and is aiming to raise $1 billion, according to reports.
As reported by businessline, Prosus, the largest shareholder in Swiggy, on November 30 said the Indian food-delivery major’s loss narrowed 35 per cent from a year ago to $208 million for the half year ended September 30.