SoftBank’s Sumer Juneja and Accel’s Anand Daniel resign from Swiggy’s board

Swiggy Ltd, a food delivery major that also operates quick commerce platform Instamart, recently announced a major reshaping of its board structure, marking a decisive step toward independent governance following its public listing last year.

Advertisment

The company appointed Faraz Khalid, chief executive of Middle Eastern e-commerce platform noon, as an independent director, while longtime investor representatives Sumer Juneja of SoftBank and Anand Daniel of Accel have resigned as non-executive, non-independent directors.

Khalid’s appointment, which is subject to shareholder approval, signals Swiggy’s intent to fortify its board with domain expertise and strategic foresight.

Sriharsha Majety, Swiggy’s co-founder and group chief executive, said that Khalid’s addition would help bolster the board’s “four pillars of strategic governance,” emphasizing a blend of startup innovation and institutional experience.

“We are confident that their foresight and diversity shall be vital in guiding Swiggy on its next leg of growth,” Majety said.

Khalid, who previously co-founded Namshi and helped noon expand across e-commerce, food delivery, and quick commerce in the Middle East, is regarded as a visionary in digital consumer businesses. He is expected to serve a five-year term, pending shareholder approval.

The board overhaul also includes the reappointment of Shailesh Vishnubhai Haribhakti, a veteran chartered and cost accountant, for a second five-year term starting January 2026. Haribhakti chairs his own consulting firm and is vice chairman of GovEVA Consulting.

Juneja and Daniel’s resignations mark the end of an era for Swiggy’s early backers. Both joined the board during the company’s formative years and were instrumental in shaping its growth trajectory. “Their confidence and counsel have been instrumental in helping the management team build Swiggy into one of India’s most beloved consumer internet brands,” said Anand Kripalu, independent director and chairperson of the board.

The board changes come as Swiggy deepens its commitment to best practices in governance and transparency, aligning with expectations for public companies. The company, which launched its IPO in 2024, reported Rs 4,410 crore in revenue for the previous quarter (Q4 FY25), a 45% increase year-on-year, but saw its losses widen to Rs 1,081 crore.