Founders remain ‘deeply invested’, no new CEO for BigBasket: Hari Menon

New Delhi: Hari Menon, co-founder and CEO of BigBasket, has categorically denied recent media reports suggesting a leadership transition or the appointment of a new chief executive. 

In a statement, Menon clarified that there are “no plans to hire a new CEO” and no formal succession discussions have taken place with the company’s board, putting an end to speculation about his potential exit from day-to-day operations.

The rumours, sparked by media reports on September 2, claimed that Menon, whose five-year tenure following Tata Digital’s acquisition of BigBasket in 2021 was nearing completion, had been working with the Tata Group to identify a successor. 

The report suggested that BigBasket’s founders were considering stepping back from operational roles to take on mentorship positions, with Tata Sons seeking a new CEO to bolster the company’s position in the competitive quick commerce market against rivals like Blinkit, Swiggy Instamart, and Zepto.

Menon, however, refuted these claims, emphasising that the founding team is “not bound by any exit timelines” and remains “deeply invested” in driving BigBasket’s growth. “There have been no discussions with the board about succession planning, and our current leadership structure remains intact,” he stated.

BigBasket, founded in 2011 by Menon along with Vipul Parekh, VS Sudhakar, Abhinay Choudhari, and VS Ramesh, has grown to become India’s largest online grocer, processing over 15 million orders per month across more than 30 cities. Tata Digital, a wholly owned subsidiary of Tata Sons, acquired a 64.3% stake in BigBasket’s B2B arm, Supermarket Grocery Supplies, in 2021, valuing the company at $3.2 billion after a $200 million fundraise in 2023.

The speculation about a leadership transition emerged amid broader changes at Tata Digital, which recently appointed Sajith Sivanandan as its new CEO, marking its third leadership change since the launch of Tata Neu in 2019.