Indian Food-Delivery Firm Zomato To Appoint Multiple CEOs: Bloomberg

  • Indian food-delivery company Zomato Ltd will appoint multiple CEOs to lead its business units, Bloomberg reported.
  • The company is also planning to rename itself Eternal Ltd.
  • The moves come after Zomato won the approval to acquire another grocer-delivery startup, Blinkit.
  • Zomato, which is backed by Ant Group Co., Temasek Holdings Pte. and Goldman Sachs Group, Inc. GS, said in an internal memo about naming CEOs for at least four units.
  • “We are transitioning from a company where I was the CEO to a place where we will have multiple CEOs running each of our businesses (e.g. Zomato, Blinkit, Hyperpure, Feeding India), all acting as peers to each other, and working as a super-team with each other towards building a single large and seamless organisation,” the report cited co-founder and CEO Deepinder Goyal.
  • Zomato reported a smaller-than-expected loss of (1.86) billion rupees or $(23.7) million) in the quarter ending June.
  • Photo Via Wikimedia Commons

Image and article originally from Read the original article here.