New Delhi52 minutes ago
- copy link
Lakshmi Nandan Reddy Obul, co-founder of food and grocery delivery platform Swiggy, has resigned from the company’s board. Swiggy gave this information in its regulatory filing on Friday. Obul was holding the responsibility of whole-time director and head of innovation in the company. His resignation will be effective from today (April 10).
The company said that Obul now wants to focus on his other professional interests, hence he has taken this decision. With Obul’s departure, several important appointments and changes in rules have also been approved in the board of Swiggy.
Alves Pinto appointed as nominee director
Swiggy’s board has approved the appointment of Renan de Castro Alves Pinto as nominee director. He will lead Prosus Ventures. He replaces Roger Rabelais, who is stepping down from the Swiggy board due to his change in role at Prosus Ventures.
Apart from this, Swiggy’s co-founder and chief growth officer Phani Kishan Adepalli and group CFO Rahul Bothra have been appointed as additional directors. His appointment will be effective from June 1, 2026.
Lakshmi Nandan Reddy Obul.
CEO said- Nandan’s vision was important for the company
On these changes in the board, Swiggy Group CEO Shriharsh Majeti said, ‘Nandan has been a visionary force in Swiggy’s journey. His contribution has been important in making Swiggy, which started from a locality in Bengaluru, a nationwide platform.
On the appointment of Phani and Rahul, Majeti said, ‘Both of them have been with us since the early days of Swiggy. He has handled the business during the most difficult and important times of the company. As we move into the next phase of growth, his understanding and experience will prove helpful in achieving our long-term goals.
Changes in Articles of Association, CEO gets new rights
Swiggy said in the filing that the board has approved the change in the Articles of Association (AoA). Under this, the rules related to nomination rights (right to nominate directors) of Excel and Softbank have been removed.
At the same time, a change has also been made in the rules, due to which CEO Shriharsh Majeti has got the right to nominate himself and any member of the senior management on the board. However, this right will be subject to certain conditions.
Read this news also…
Shapoorji Mistry came in favor of listing of Tata Sons: Said- This is not just a regulatory requirement, but a necessary step for transparency.
Shapoorji Pallonji (SP) Group Chairman Shapoorji Pallonji Mistry has once again advocated the listing of Tata Sons. In a statement issued on Friday, Mistry said that it is necessary to list Tata Sons on the stock exchange.
This will not only increase transparency in the group, but will also strengthen governance and accountability. Let us tell you that Shapoorji Pallonji Group has about 18% stake in Tata Sons. Read the full news…
Source link
[ad_3]
