Swiggy hires new CEO for its Access Service, gets new CFO

As the competition in the food technology space intensifies, food delivery firm Swiggy is strengthening its senior management team across various operational roles steadily. Swiggy has brought on board Vishal Bhatia as the CEO for its new supply vertical which was launched last month with Swiggy Access – the delivery only service in partnership with restaurants in new localities. 
Bhatia’s role will focus on using the ‘New Supply’ business line to plug existing supply gaps in the marketplace, including enabling partner restaurants to expand their businesses as also for resolving consumer gaps in assortment availability. 
Bhatia comes with 19 years of experience across blue chip organizations like Reckitt Benckiser (RB), PepsiCo and Britannia. In his most recent stint at RB’s headquarters in the UK, Bhatia led the global growth strategy and the related innovation agenda on the Dettol personal hygiene portfolio, creating one of the fastest growing segments for the business. 
The company also announced the appointment of its first ever CFO Rahul Bothra, in keeping with its strategy to strengthen its balance sheet and scale beyond delivery, which ET had reported in September. 
“As Swiggy prepares for the next phase in our growth, the new leaders will spearhead strategic initiatives that will create sustainable long-term value for our consumers and the marketplace. This requires concerted efforts and a very strong understanding of the consumer, coupled with the execution excellence that they bring onboard,” said Sriharsha Majety, CEO, Swiggy in a statement. 
As the fight of the top spot in the food technology industry gets rougher, Swiggy is looking to beef up its lesser revenue accretive businesses such as the advertising business from 2018, ET had reported last month. The Bangalore-based company has seen its revenues jump a massive 6 times to Rs 133 crore in FY17 from Rs 20 crore last year as it has steadily been increasing order volumes across its platform to over 4 million per month. 
However a 119% increase in other expenses to Rs 345 crore saw the pile of losses swell even further to Rs 205 crore – an almost 50% increase. The Naspers-backed company is looking to streamline its operational efficiencies through FY18 and a professional senior management will help hasten the process for Swiggy.

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