Swiggy informed that Barua has confirmed that there are no material reasons for his resignation other than those mentioned in his letter
New Delhi: Delhivery CEO Sahil Barua has stepped down as Independent Director on Swiggy’s Board citing “increased professional commitments” days after the logistics services provider announced the acquisition of rival Ecom Express.
In a regulatory filing on Friday, Swiggy informed that Barua has confirmed that there are no material reasons for his resignation other than those mentioned in his letter.
“Due to my increased professional commitments in my role as the CEO of Delhivery, I find myself unable to dedicate the necessary time and attention required to fulfil my responsibilities as an independent director on your board,” he wrote in a letter to the Swiggy board.
Logistics services provider Delhivery Ltd, earlier this month, announced the acquisition of Ecom Express.
In a regulatory filing, the company had said it has “signed a definitive agreement to acquire a controlling stake in Ecom Express Ltd for a cash consideration of around Rs 1,400 crore from its shareholders”.
Barua was one of the first independent directors to join Swiggy.
Anand Kripalu, Chairperson of the Swiggy Board, said, “Sahil was one of the first independent members of Swiggy’s board, and has played a meaningful role in the company’s journey as we’ve scaled and transitioned into the public markets. We’re grateful for his support over the past two years, and wish him continued success”.
