Zomato has announced that Gunjan Tilak Raj Soni, an independent director on its board, has officially resigned due to mounting work commitments. Soni, who has been an integral part of the company’s board since July 2021, is the CEO of Zalora Group, a leading e-commerce fashion platform in Southeast Asia. Her departure signals the increased demands of her executive role at Zalora, as the company undergoes expansion across key markets.
Soni’s resignation letter, which Zomato made public in a regulatory filing, cited her inability to continue dedicating sufficient time to the responsibilities of an independent director at Zomato. The filing stated that her departure was effective immediately and was not linked to any disagreement with the company’s management.
Gunjan Soni’s exit adds to a list of notable changes at Zomato’s leadership level in recent months. The company, which operates as one of the largest food delivery services in India, has seen heightened competition from rivals like Swiggy and emerging local players, forcing it to rethink strategies and streamline its operations. Amid this, Soni's exit, while amicable, raises questions about the future direction of the company’s board and how Zomato will navigate these challenges.
As Zomato looks to optimize its market positioning, Soni's background in fashion, retail, and digital transformation has been highly valued. Her experience at Zalora and earlier stints at Myntra, Jabong, and McKinsey equipped her with a broad understanding of e-commerce, consumer behavior, and scaling businesses in dynamic markets. This skill set was particularly relevant as Zomato ramped up its initiatives to diversify services, including its push into grocery delivery and cloud kitchen operations, which are expected to shape the future of India’s food-tech ecosystem.
Zomato’s CEO, Deepinder Goyal, has consistently praised the contributions of independent directors like Soni, emphasizing that her expertise played a critical role in strengthening Zomato’s operational framework and governance structure. Soni’s extensive knowledge of digital retail and business transformation complemented the company’s ongoing efforts to streamline its offerings in the highly competitive food delivery space.
As Soni steps away from her position at Zomato, Zalora, under her leadership, continues to experience significant growth. Zalora has been expanding its footprint in Southeast Asia, enhancing its logistics capabilities and customer engagement through investments in technology and partnerships. The company, which operates across Singapore, Malaysia, Indonesia, and the Philippines, has been particularly focused on building a robust omnichannel presence and furthering its sustainability initiatives, which have been central to its long-term strategy. Soni’s role at Zalora has been instrumental in leading these efforts, and her departure from Zomato likely allows her to focus more intensively on steering Zalora’s growth trajectory.
Soni’s career spans nearly two decades, during which she has built a reputation as a strategic leader with a sharp focus on digital transformation. At Myntra and Jabong, she was key to shaping their business models in India’s burgeoning online fashion space. At McKinsey, she advised a range of industries, including retail and consumer goods, helping companies navigate complex market dynamics and scale their operations. Her ability to understand consumer behavior and leverage technology has been a defining feature of her leadership style.
While Zomato navigates the complexities of its board reshuffle following Soni's resignation, the company remains committed to driving forward its innovation agenda. Zomato has been steadily expanding beyond its core food delivery service to include dining-out experiences, subscription services, and financial products tailored to restaurants. These initiatives are part of the company's broader vision to become a comprehensive food ecosystem platform, encompassing all aspects of the food and dining experience.
However, Zomato faces intensifying challenges as India’s food delivery sector continues to evolve rapidly. Swiggy, Zomato’s primary competitor, has gained significant ground in key urban markets, driving price competition and squeezing margins. Meanwhile, new entrants are capitalizing on hyper-localized delivery models, further fragmenting the market. Zomato has responded by investing in technology to enhance delivery efficiency and expanding its reach in Tier-2 and Tier-3 cities, areas that present significant growth potential but come with unique logistical challenges.
The broader food-tech landscape in India is undergoing a transformation, with customer expectations shifting toward faster deliveries, diverse cuisine options, and integrated payment solutions. Zomato has recognized these changes and is working to adapt by leveraging its network of restaurant partners and continuously improving its tech stack. These efforts are seen as crucial to maintaining its competitive edge in a market that is not only fiercely competitive but also highly dynamic, with changing consumer preferences and regulatory requirements.
Soni’s resignation will likely prompt the company to seek a new independent director with expertise in scaling digital platforms and navigating complex, fast-growing markets. As Zomato continues to innovate and diversify its portfolio, the company will look to strengthen its board with individuals who can provide fresh perspectives, particularly in areas like technology, logistics, and consumer trends.