Dale Vaz, the chief technology officer of Swiggy, has reportedly resigned from the company after about five years. Madhusudhan Rao, who has been with the company for over four years, will be taking over as the new chief technology officer, according to a media report.
According to a report by Moneycontrol, Vaz will remain with Swiggy till the next month.
“We confirm Dale Vaz has decided to move on from Swiggy to pursue entrepreneurial opportunities. He will continue in his role till May 2023 and will be associated with Swiggy for an extended period in an advisory role. We thank him earnestly for his many contributions to Swiggy,” a company spokesperson told the media outlet.
Vaz had joined the company in July 2018 as head of engineering and data science after which he was promoted to the role of chief technology officer, as per his LinkedIn profile.
Prior to Swiggy, Vaz was associated with Amazon as director of software engineering, Amazon India in his last role at the company. He spent over 11 years at Amazon. Before Amazon, Vaz was a part of Infosys Technologies Ltd.
Meanwhile, Rao is currently the senior vice president of ConsumerTech and FinTech (Engg and Product) at Swiggy.
The development comes after a recent filing revealed that Invesco has slashed Swiggy’s valuation to $8 billion from $10.7 billion. Swiggy achieved the status of decacorn last year after it raised about $700 million from US-based investment firm Invesco.
According to a report by TechCrunch, after raising funds in January last year, Atlanta-headquartered Invesco had slashed the value of its Swiggy holdings and valued the firm at about $8 billion in October, filings showed.
Recently, Swiggy Instamart’s head Karthik Gurumurthy also announced that he will step down from his role by the end of April.
“I have loved being a part of this journey but this journey has been arduous with lot of compromises on physical & mental wellbeing. I plan to take a sabbatical now to come back afresh and build something (0-1), something which I have loved… Live back and playback those memories of 2020 and 2021,” his LinkedIn post read.
He will be succeeded by Swiggy co-founder, Phani Kishan Addepalli, he confirmed in the LinkedIn post.
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