Co-founder and Chief Technology Officer (CTO) of food delivery platform Zomato, Gunjan Patidar has resigned from the company. Zomato has given this information to the stock exchange on Monday i.e. Jan 02.
Patidar's resignation is the second major setback for Zomato in the last few weeks.
Gunjan Patidar was part of the initial team that founded Zomato and is credited with developing the company's core tech system.
Zomato has said in the exchange filing that during the last more than 10 years, the work of building and grooming the company's tech leadership team was also done by Gunjan Patidar.
However, along with this, the company has also said in its filing that Patidar was not among the key managerial personnel (KMP) of Zomato.
Patidar has been involved in the initial team of Zomato and worked in the company for about 14 years. Along with Zomato CEO Deepinder Goyal, he has also been a student of IIT Delhi.
Several senior executives have resigned from Zomato in recent times, including another co-founder Mohit Gupta. Mohit Gupta joined the company about four and a half years back.
In 2020, Gupta was promoted from the post of CEO of the company's food delivery business to co-founder. Apart from Mohit Gupta, Rahul Ganjoo, the company's new initiative head and former head of the food delivery business, and Siddharth Jhawar, another key executive, also left the company last November.
Ganjoo resigned from his post after working for 5 years in the company.
Last year has not been good for Zomato. During the second quarter of the financial year 2022-23, Zomato had to bear a net loss of Rs 250.8 crore.
Although this is less than the loss of Rs 434.9 crore in the same period of the previous financial year.
Nevertheless, the company's performance in the stock market was very poor. In 2022, the company's share price fell by more than 50 per cent. The company's stock closed at 60.30 paise on Monday i.e. Jan 02.