Swiggy cofounder and group CEO Sriharsha Majety is confident that the recent surprise defeat of a shareholder resolution on a corporate recast at the food delivery and quick commerce platform will be reversed soon, downplaying concerns over the governance implications of the proposal.
“On balance, it (the amendment) actually gives more than it takes,” he said in his first interview since the setback. “As part of the overall amendment, some permanent nomination rights are also being removed, and any additions would be subject to approval by the NRC (nomination and remuneration committee), the board, and shareholders. So we don’t see this as a governance issue at all.”
