Food delivery start-up Zomato’s Deputy Chief Financial Officer (CFO) Nitin Savara has resigned from his position, the company said in an exchange filing.
Notably, the development comes a day after Zomato’s first annual general meeting. Zomato, however, in its filing said that Savara was not designated as key managerial personnel.
Savara is quitting Zomato to start his own business.
In a Slack announcement, CEO Deepinder Goyal addressing Savara said, “In your short stint, you have taken our finance team many steps forward, and we will remain eternally grateful to you for that.” A screenshot of the Slack announcement was posted in the disclosure to the exchange.
Previously, Savara was a partner at Ernst & Young, a services firm. He had begun his stint at Zomato in November last year.
Goyal further said, “Nitin Savara loves Zomato, and as much as I and Akshant (CFO) tried to retain him with us for the last few weeks...but, it didn’t work because Nitin is very excited about what he wants to build and there’s no one stopping him…”
Zomato had its first annual general meeting on Wednesday where the company reaffirmed its commitment to improving its topline and assured the investors the company is on track to achieve profitability.