Swiggy’s Chief Technology Officer, Dale Vaz, has announced his resignation from the company after a four-year tenure to pursue his entrepreneurial venture. Vaz joined Swiggy in 2018 as the Head of Engineering & Data Science and was promoted to the CTO position in 2020. Before joining Swiggy, he worked in software development roles at Amazon and Infosys.
According to a company spokesperson, Vaz will continue in his role until May 2023 and will be involved with Swiggy as an advisor for an extended period. Swiggy’s Senior Vice President, Madhusudan Rao, will succeed Vaz as the CTO. Rao has more than a decade of experience in tech leadership roles and has been with Swiggy for over four years. He has previously worked at Amazon and Boomerang Commerce.
This marks the second leadership change at Swiggy in the last seven days. Last week, Karthik Gurumuthy, the head of Swiggy Instamart, announced plans to take a sabbatical and return later to lead another initiative. As a result, Swiggy’s co-founder, Phani Kishan Addepalli, will head the company’s quick commerce service.
Recently, US-based investor Invesco slashed Swiggy’s valuation to $8 billion, compared to the $10.7 billion recorded in the previous quarter. Invesco led a $700 million funding round in Swiggy in January 2022. In addition, last month, Swiggy sold its cloud kitchen business to Kitchens@, a cloud kitchen aggregator, in a share swap deal.
Swiggy launched its cloud kitchen business, Swiggy Access, in 2017. The program allowed restaurant partners to establish kitchen spaces in neighbourhoods where they do not currently operate, with the goal of offering more variety and shortening delivery times for consumers.