Swiggy co-founder Nandan Reddy steps down from board

Nandan Reddy, Co-founder of Swiggy Limited, will step down from the company’s board to pursue independent ventures. 

The exit, disclosed in a regulatory filing on Friday, comes as Swiggy undertakes a broader reshuffle of its board, elevating internal executives and investor representation as it moves deeper into its post-listing phase.

Swiggy’s board has approved the appointment of Phani Kishan Addepalli, Co-founder and Chief Growth Officer; and Rahul Bothra, its Group Chief Financial Officer, as Executive Directors, effective June 1, subject to shareholder approval. Both executives have been closely involved in the company’s operational and financial evolution over the past decade.

The company is also inducting Renan De Castro Alves Pinto as a Non-Executive Nominee Director, representing investor MIH India Food Holdings, part of the Prosus group. He replaces Roger Clark Rabalais, who has stepped down following changes in his role within the investor group.

The board overhaul reflects a shift toward a more execution-led governance structure, with long-serving operators gaining formal board roles.

In a statement, Swiggy Group CEO Sriharsha Majety said the appointments of Kishan and Bothra would bring “institutional knowledge and operational depth” to the company’s next phase of growth.

Reddy was instrumental in building Swiggy’s early operations alongside co-founder and Group CEO Sriharsha Majety. His departure makes him the latest among the founding team to exit the company. Swiggy was originally co-founded by Reddy, Majety, and Rahul Jaimini, who left in 2020 to start Pesto Tech.

Another co-founder, Phani Kishan Addepalli, currently serves as Chief Growth Officer, having joined the company in 2015 as a General Manager and rising through the ranks.

Reddy’s departure is particularly notable. As one of Swiggy’s original founders, he played a key role in shaping the company from its early days in Bengaluru into a nationwide platform spanning food delivery, quick commerce, and dining services.  

The changes also come at a time when Swiggy is navigating intensifying competition in both food delivery and quick commerce, while working to balance growth with profitability expectations from public market investors following its 2024 listing.