Zepto Sees Second Top-Level Exit as VP of Central Operations Jitendra Bagga Steps Down
- ByStartupStory | December 30, 2024
In a significant leadership shake-up, quick-commerce giant Zepto has announced the resignation of its Vice President of Central Operations, Jitendra Bagga, after a nine-month tenure. Bagga, who played a key role in managing Zepto’s warehousing division, including Mother Hubs (MH) and Line Haul (LH) projects, stepped down amidst the company’s aggressive expansion drive.
The development marks Zepto’s second top-level departure in recent months. Earlier in December, the company’s Chief Human Resource Officer (CHRO), Martin Dinesh Gomez, quit the organization after an 11-month stint.
Media reports indicate that these changes come as Zepto is preparing to relocate its headquarters and staff from Mumbai to Bengaluru. Before joining Zepto in April 2024, Bagga brought over 27 years of supply chain expertise, having worked with companies like Raymond and Reliance Retail.
Founded in July 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has made a name for itself by delivering groceries and essentials within 10 minutes through its network of dark stores. Starting 2024 with 300 stores, Zepto has expanded to over 750 stores, competing with industry giants such as Swiggy Instamart, Blinkit, Flipkart Minutes, and Tata Bigbasket.
Zepto has its eyes set on a 2025 IPO, with plans to raise over $500 million through the public offering. It has appointed Goldman Sachs, Morgan Stanley, and Axis Capital as bankers for the IPO. The company is also enhancing domestic shareholding and reducing stakes held by foreign investors as part of its pre-IPO preparations.
Amidst these strategic moves, Zepto recently appointed Shashank Shekhar Sharma as CXO for Zepto Café, a vertical focusing on café operations. Sharma will oversee operations, expansion, equipment procurement, quality control, and customer experience.
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