Bengaluru: Swiggy has announced the appointment of Faraz Khalid, CEO of noon, as an independent director on its Board, subject to shareholder approval. This development comes as part of the company’s transition towards a more independent board structure, following its successful public listing last year.
Alongside the new appointment, Swiggy also announced that Sumer Juneja (representing Softbank) and Anand Daniel (representing Accel) will step down as non-executive and non-independent directors on the Board. Their exit marks a key milestone in the evolution of Swiggy’s governance framework as it aligns with the highest standards of corporate governance for publicly listed companies.
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.”
Faraz Khalid currently serves as the CEO of noon, the Middle East’s leading consumer commerce platform. Under his leadership, the company has diversified into ecommerce, quick commerce, and food delivery. He also co-founded Namshi, a regional fashion ecommerce leader, and is widely recognized for his vision in transforming the region’s digital economy.
The stepping down of Sumer Juneja and Anand Daniel marks the culmination of a chapter defined by robust support and value creation. Their exit from the Board reflects continued confidence in Swiggy’s strategic trajectory, leadership team, and governance approach.
Anand Kripalu, Independent Director and Chairperson of the Board, added, “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.”
