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Sumer Juneja and Anand Daniel resign from Swiggy board, Faraz Khalid joins

Entrackr · 1d ago

Medial

Sumer Juneja and Anand Daniel resign from Swiggy board, Faraz Khalid joins Sumer Juneja from SoftBank and Anand Daniel from Accel have resigned from their roles as nominee directors on Swiggy’s board. Following these departures, Swiggy has appointed Faraz Khalid, CEO of Middle East commerce platform noon, as an independent director. The changes come as part of a major revamp in the company’s board makeup after its public listing. The appointments and resignations were finalized at a board meeting held on July 25. Faraz Khalid’s appointment is subject to shareholder approval and he will serve a five-year term on the board. Khalid brings experience in e-commerce, quick commerce, and food delivery. He co-founded Namshi and helped noon become a key player in the Middle East and North Africa region. Meanwhile, Swiggy has reappointed Shailesh Vishnubhai Haribhakti as a non-executive independent director for a second consecutive term of five years. The reappointment will take effect from January 24, 2026. Haribhakti, a veteran chartered accountant and cost accountant with over five decades of industry experience, also serves as chairman of Shailesh Haribhakti & Associates and vice chairman of GovEVA Consulting. The move is part of ongoing efforts by Swiggy to strengthen governance standards following its public listing. While Swiggy is yet to file its Q1 FY26 results, it reported a 45% year-on-year revenue growth to Rs 4,410 crore in the previous quarter, with losses widening to Rs 1,081 crore. Meanwhile, rival Zomato’s parent company, Eternal, reported Q1 FY26 revenue of Rs 7,167 crore. At the close of today’s trading session, Swiggy’s shares were priced at Rs 408.3 and the company had a market capitalization of Rs 1,01,815.6 crore (around $11.9 billion).