The company has named Faraz Khalid, Chief Executive Officer (CEO) of noon, as the fourth independent director on its board
Marking the transition of its board towards an independent structure following its public listing, Swiggy, an on-demand convenience platform, has informed that the investor representatives of SoftBank and Accel have resigned.
Sumer Juneja and Anand Daniel, non-executive and non-independent directors, were representatives of key investors Softbank and Accel, respectively. Juneja and Daniel are stepping back from board representation following a period of progress and value-creation at Swiggy, the company said in a regulatory filing.
“We also extend our heartfelt thanks to Sumer and Anand for their invaluable contributions. Both have been associated with Swiggy since the early days, and their confidence and counsel have been instrumental in helping the management team build Swiggy into one of India’s most beloved consumer internet brands,” highlighted Anand Kripalu, Independent Director and the Chairperson of Swiggy’s Board of Directors.
The company has also appointed Faraz Khalid, Chief Executive Officer (CEO) of noon, as the fourth independent director on its board. Under his leadership, noon has evolved into an ecommerce, quick commerce and food delivery platform. He previously co-founded Namshi, helping establish it as a regional fashion leader. Khalid is known for his strategic vision and innovation in shaping the region’s digital economy, the company added.
Swiggy highlighted that Khalid will hold office for a period of five consecutive years with effect from 25th July 2025 till 24th July 2030, subject to approval of the members of the company. With this natural progression after Swiggy’s IPO last year, the board has made strides towards an independent structure, aligning with best practices for publicly listed companies, the statement added.
