Swiggy appoints Faraz Khalid as independent director as investor representatives step down

New Delhi: Swiggy, has announced changes to its Board structure following its public listing. The company has appointed Faraz Khalid, CEO of Middle East-based e-commerce platform noon, as an independent director, subject to shareholder approval.

At the same time, investor representatives Sumer Juneja of Softbank and Anand Daniel of Accel have stepped down from their roles as non-executive, non-independent directors. Both have been associated with Swiggy since its early years.

“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,” said Sriharsha Majety, Founder and Group CEO, Swiggy.

Majety described Khalid as “among the most visionary leaders in e-commerce,” citing his background in scaling operations, technology integration and consumer experience.

Khalid currently leads noon, which operates across ecommerce, quick commerce and food delivery in the Middle East. He was also the co-founder of fashion retailer Namshi.

Swiggy stated that the departure of Juneja and Daniel reflects a natural progression following its IPO in 2024, and marks a shift towards a more independent board composition in line with governance standards for public companies.

Anand Kripalu, Independent Director and Chairperson of the Board, 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.”