Swiggy Instamart appoints Flipkart veteran Amitesh Jha as new CEO
What's the story
Swiggy has announced a significant leadership change at Instamart, its quick commerce venture. The company's co-founder, Sriharsha Majety, revealed in an email to employees that Amitesh Jha, a seasoned Flipkart executive, will assume the role of CEO at Instamart. This development marks the third leadership change for Instamart within a span of just 18 months.
Leadership shift
Phani Kishan transitions to broader role
In the same email, Majety also disclosed that the current head of Instamart, Phani Kishan, will transition to a more comprehensive role within Swiggy. Kishan will now manage the Central Growth unit and work closely with Majety on new challenges. He will also resume his previous role as Majety's Chief of Staff while continuing to be part of Swiggy's management team.
New appointment
Majety welcomes Jha's appointment
Majety expressed his enthusiasm about the recent appointments in his email, stating, "I am now delighted to welcome Amitesh sha as the new CEO of Swiggy Instamart. Amitesh joins from Flipkart with an outstanding track record through the 14 years he's worked there." He also highlighted that these changes come as Swiggy prepares for its next growth phase and continues to onboard accomplished leaders.
Market standing
Swiggy's position in quick commerce market
The leadership changes at Swiggy Instamart occur amid intensifying competition in the quick commerce sector. Currently, Zomato's Blinkit leads the market with a 40-45% share, while Swiggy Instamart holds the second position with a 20-25% share. Other companies like Zepto and Tata's BB Now are also increasing their operations to capitalize on this growing market trend.