Mumbai: Food delivery major Swiggy has announced a significant leadership shift, with co-founder Nandan Reddy stepping down from its board. The move marks a pivotal moment for the company as it enters a new phase of growth and governance restructuring.
The development was disclosed in filings to exchanges on Friday, April 10, alongside a broader board revamp initiative aimed at strengthening executive leadership.
New Executive Directors Appointed
As part of the restructuring, Swiggy’s board has approved the appointment of co-founder Phani Kishan and Group CFO Rahul Bothra as executive directors. Their appointments will come into effect from June 1, 2026, subject to shareholder approval.
Group CEO Sriharsha Majety highlighted their long-standing association with the company, noting that both leaders have played crucial roles in shaping Swiggy’s trajectory. He emphasised that their deep operational understanding and focus on innovation would be critical as the company scales further.
End of a Founding Chapter
Reddy’s departure signals the close of a foundational chapter in Swiggy’s journey. As one of the early architects of the platform, he was instrumental in transforming the Bengaluru-based startup into a nationwide on-demand services player.
In his resignation note, Reddy indicated plans to explore independent ventures and dedicate time to personal interests. Majety described him as a “visionary force”, crediting his influence on Swiggy’s culture, innovation and customer experience.
Market Reaction
Following the announcement, shares of Swiggy Ltd ended at Rs 276.00 on the NSE on April 10, 2026, rising Rs 4.10 or 1.51% for the day. The uptick suggests investor confidence in the company’s leadership transition and future growth strategy.
