Zomato rival Swiggy appoints Suparna Mitra as an Independent Director to its board

Bengaluru-based food delivery platform Swiggy has announced the appointment of Suparna Mitra, CEO of Titan Company Limited's Watches and Wearables Division, as an independent director.

Who is Suparna Mitra?

Suparna Mitra, CEO of Titan Company Limited’s Watches and Wearables Division, has over 30 years of experience in lifestyle and retail. She holds an electrical engineering degree from Jadavpur University and an MBA from IIM Calcutta and has held key roles, including Global Marketing Head at Titan.

Suparna serves on IIM Kozhikode’s Board of Governors and has been recognized with prestigious awards for her business acumen. 

Strategic enhancement of board composition

The strategic move follows Mallika Srinivasan, Chairman and Managing Director of TAFE, stepping down from Swiggy's board due to increasing business commitments elsewhere.

Srinivasan's departure after a brief tenure highlights the dynamic nature of Swiggy's board, which seeks to blend diverse expertise and insights for its next growth phase.

Swiggy's board now boasts a mix of independent directors, including Anand Kripalu – MD & Global CEO at EPL Limited and Chairperson of the Swiggy board, Shailesh Haribhakti – Chairman of Shailesh Haribhakti & Associates, and Sahil Barua – Managing Director & CEO at Delhivery.

Navigating through executive transitions

The announcement arrives amid a period of significant executive turnover at Swiggy, with several key departures, including Karan Arora, Nishad Kenkre, Ashish Lingamneni, Dale Vaz, and Karthik Gurumurthy.

Concurrently, Swiggy has been active in reinforcing its leadership. The company recently onboarded Ashwath Swaminathan as Chief Growth & Marketing Officer and Anirban Roy and Dipak Krishnamani in pivotal growth-oriented roles.

Prepping for the Public Market

Swiggy's board realignment is a key part of its broader strategy to solidify its governance structure and operational excellence ahead of its anticipated initial public offering (IPO).

The company is on the verge of filing its draft IPO papers, a crucial step in its journey towards the public markets. With a reported revenue of Rs 5,476 crore during the first three quarters of the financial year FY23 and efforts to curb losses and optimize operations, Swiggy is keenly focused on its public market debut.

Leadership comments

Sriharsha Majety, Swiggy's Group CEO, said, “We are excited to welcome Suparna as an independent director to our board. With her remarkable career and extensive experience in lifestyle and retail industries, along with her refreshing perspectives as a leader, we are confident that she will bring valuable insights and expertise to our Board as our business enters its next era of growth.”

“Having seen Swiggy revolutionize on-demand convenience through innovation and customer-centricity, I’m excited by this opportunity. I look forward to collaborating with the Board members and management team of Swiggy; aimed at value-creation and values-based governance,” said Suparna Mitra on her appointment.