In a disclosure to stock exchanges, Zomato announced the quitting of Nitin Savara as the firm’s deputy chief financial officer (CFO)
n a disclosure to stock exchanges, Zomato announced the quitting of Nitin Savara as the firm’s deputy chief financial officer (CFO). From Ernst & Young, a multinational professional services firm where he was a partner, Savara, had joined in November last year. Savara played a significant role in the acquisition for Rs 4,447 crore, making his stint with Zomato successful. The firm has stated that Savara has not been designated as key managerial personnel. He is all set to start his own venture.
In a Slack Channel conversation screenshot of the firm shared in the disclosure, Deepinder Goyal said, “Nitin Savara loves Zomato, and as much as I and Akshant (Goyal – CFO), tried to retain him with us for the last few weeks it didn’t work because Nitin is very excited about what he wants to build and there’s no one stopping him 🙂 Also, I am the last person to stop anyone from starting up on their own. We need more entrepreneurs in our country, not less.”
In a public statement, Zomato stated that the disclosure would not qualify as ‘material information’. The firm has made it voluntarily.