Swiggy, a leading player in food delivery and quick commerce, has appointed Suparna Mitra as an independent director to its board.
Mitra is the CEO of the watches and wearables division of Titan Company, a subsidiary partly owned by Tata Sons. She joins three additional independent directors on Swiggy’s board.
These include Anand Kripalu, who is the board chair and also serves as the managing director and chief executive of specialty packaging company Essel Propack; Shailesh Haribhakti, the chairman of financial services firm Shailesh Haribhakti & Associates; and Sahil Barua, the co-founder and chief executive of the listed logistics giant Delhivery.
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“Given her remarkable career and extensive background in lifestyle and retail industries, coupled with her refreshing leadership perspectives, we’re confident that she’ll offer valuable insights and expertise to our Board as our business embarks on its next phase of growth,” remarked Swiggy cofounder and group chief executive Sriharsha Majety regarding Mitra’s appointment.
This decision comes after Tractor And Farm Equipment Ltd (TAFE) chairman Mallika Srinivasan resigned as an independent director in February of this year. Swiggy stated at the time that Srinivasan had decided to step down due to “increasing business commitments,” but provided no other explanation. Srinivasan, Barua, and Haribhakti were the first independent members to join the Swiggy board in February 2023.
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Until then, Swiggy’s board comprised Sriharsha Majety, the CEO and co-founder of Swiggy; Nandan Reddy, co-founder of Swiggy; Larry Illg, CEO of Prosus’ Edtech and Food divisions, the largest investor; Ashutosh Sharma, head of investment for India at Prosus Ventures; Sumer Juneja, managing director for India and EMEA at SoftBank Investment Advisors; and Anand Daniel, a partner at Accel.
The shifts within Swiggy’s board come ahead of the company’s public market debut, with draft public offering papers set to be filed in the next few months. The firm has been diligently working to bolster its metrics and curtail cash burn, particularly within its quick commerce division, Instamart.
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