Deepak Gulati, the President and chief operating officer (COO) of restaurant listing and food delivery company Zomato has resigned within six months of his appointment at the company, reports The Economic Times. However, Gulati will continue to be part of the company in an advisory role, according to the report.
Confirming to MediaNama, Zomato’s spokesperson said that, “It is true, Deepak is no longer a part of the executive team. He will continue to be associated with Zomato as a member of our Board of Advisors. Deepak has been, and continues to be a wonderful coach and an advisor to Deepinder.”
A source told ET that Gulati’s appointment was led by Sequoia Capital. However, Zomato’s spokesperson said to the publication that is not an investor-led decision, and Sequoia has helped the company with various senior positions, and that is the extent of their involvement in Gulati’s hiring as well.
Gulati is a former CEO of Tata Docomo who joined Zomato as its President and COO in April this year. Before Zomato, he served Tata Teleservices for five years, where he was the Executive President, from December 2008 to December 2013, and led the group’s foray into GSM with Tata Docomo, and launched the Tata Docomo brand.
Zomato had seen such senior executives quitting in the year 2015, when Durga Raghunath had quit as its Senior Vice President of growth, within six months of being appointed to the position. And before that, it’s CMO Rameet Arora had quit within 10 months after his appointment.
Zomato’s focus on delivery: The resignation news comes at a time when the online company is focusing on beefing up its delivery business. The company recently acquired a last-mile logistics startup Runnr to strengthen its logistics services. Zomato also surpassed 3 million online orders in the month. It also reported food ordering revenues of $9 million for the financial year ended 31st March 2017 (FY17), around 8 times of FY16.
Update: The story has been updated after Zomato confirmed the news and shared a statement with us.