Swiggy Reshuffles Board, Appoints Noon CEO Faraz Khalid as Independent Director

As part of the Board’s recent changes, Sumer Juneja and Anand Daniel, non-executive and non-independent directors representing key investors SoftBank and Accel, respectively, have stepped down from their positions.

Sriharsha Majety, founder and group CEO of Swiggy, said, "Faraz is among the most visionary leaders in e-commerce, bringing extensive expertise in integrating advanced technology, scaling operations, and delivering superior customer experiences. With his joining our Board, our independent directors (led by our Chairperson) represent four pillars of strategic governance. They bring a wide array of experience across established companies and startups, and marry business and financial acumen with fiduciary expertise. We are confident that their foresight and diversity shall be vital in guiding Swiggy on its next leg of growth."

Anand Kripalu, Independent Director and the Chairperson of its Board of Directors, said, "We are delighted to welcome Faraz to the Board and look forward to leveraging his considerable experience at noon. We also extend our heartfelt thanks to Sumer and Anand for their invaluable contributions.

"Both have been associated with Swiggy since the early days, and their confidence and counsel have been instrumental in helping the management team build Swiggy into one of India's most beloved consumer internet brands. The refreshed Board structure underscores Swiggy's commitment to enhancing Board independence as part of the long-term roadmap towards stronger corporate governance, transparency, and value creation for all shareholders."