Eternal Group, the parent company of Zomato, has dismissed media reports suggesting that Rakesh Ranjan, the CEO of its food delivery business, has resigned. In a stock exchange filing on Thursday, the company clarified that Ranjan continues to serve in his leadership role and has not tendered any resignation.
The clarification came after a media report claimed Ranjan was stepping down as part of a leadership reshuffle, with Zomato’s co-founder and CEO Deepinder Goyal likely to take interim charge of the food delivery segment. The company refuted these claims and emphasised that no official change has taken place.
“We would like to clarify that as on date, there has been no resignation tendered by Mr. Rakesh Ranjan and he still continues to be part of the leadership team,” the company said in its filing.
Eternal Group also addressed speculations around internal restructuring, stating that leadership reshuffles are a routine exercise aimed at enhancing organisational efficiency. “Internal reshuffling of the leadership team is considered a standard practice as part of the company’s ongoing efforts to optimise organisational effectiveness,” the statement added.
The company further mentioned that no price-sensitive or significant information has been disclosed to the public, and any such developments will be shared with stock exchanges as per regulatory norms. The clarification, it said, was issued voluntarily to avoid misinformation.
The media report in question had also claimed that Ranjan was leaving amid concerns over slowing growth and rising competition from players like Swiggy. It had speculated that Goyal would oversee the food delivery vertical temporarily until a successor was appointed.
Rakesh Ranjan, who took charge of the food delivery business in May 2023, leads Zomato’s most significant vertical in terms of revenue and profitability. In the December 2024 quarter, the segment recorded a gross order value (GOV) of Rs 9,913 crore — marking a 2 per cent sequential growth and a 17 per cent rise year-on-year.
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