M Sridhar, company secretary and compliance officer in Swiggy, has resigned, citing personal reasons. His resignation was officially submitted on January 29, and his tenure will end on February 17, 2025. Sridhar’s departure comes less than a year after he joined Swiggy in February 2024 and formally took over as company secretary in April 2024.
M Sridhar Professional Journey
Before joining Swiggy, Sridhar had an extensive career working in major organizations across different industries. He previously held leadership positions at Himatsingka Seide, Prestige Estates Projects, Shyamaraju & Company (India), GMR Energy, S&S Power Switchgear, Teledata Marine Solutions, and Peerless Securities. His expertise in corporate governance and compliance made him a key asset to Swiggy.
In his resignation letter, Sridhar expressed gratitude to Swiggy’s board of directors, CFO, senior management, and colleagues for their support throughout his tenure. While the company has not yet announced a replacement, his exit marks an important leadership transition for Swiggy.
Swiggy Recent Developments
Despite Sridhar’s exit, Swiggy continues to push forward with key business initiatives. Recently, the company allocated 2.61 crore equity shares under its employee stock option (ESOP) schemes. This move is expected to strengthen employee retention and boost morale as Swiggy expands its operations.
Additionally, Swiggy secured approval from the Ministry of Corporate Affairs (MCA) to establish Swiggy Sports Private Limited. Although details about this new entity are still emerging, the move suggests that Swiggy is exploring new business verticals beyond food delivery and quick commerce.
Expansion of Swiggy Instamart
Swiggy has been aggressively growing its quick commerce division, Instamart, which now operates in 76 cities across India. The company is also considering launching a dedicated app for its quick commerce services to enhance customer experience and compete more effectively with rivals like Zepto and Blinkit.
Swiggy’s quick commerce expansion aligns with its other recent initiatives, including SNACC, which promises 15-minute food deliveries, and Pyng, a platform for professional services. These efforts reflect Swiggy’s strategy to diversify beyond traditional food delivery and capture a larger market share in India’s rapidly evolving e-commerce landscape.
What Lies Ahead for Swiggy?
With Sridhar’s departure and rapid business expansions, Swiggy is entering a critical phase of growth and transformation. The company is expected to strengthen its leadership team and continue exploring new opportunities in both food delivery and quick commerce. The launch of Swiggy Sports Private Limited and the expansion of Instamart indicate that Swiggy is diversifying its business model to maintain its competitive edge.
As Swiggy continues to innovate, the company’s next steps in leadership hiring and strategic growth will be crucial in shaping its future.
