Indian food-delivery company Zomato Ltd will appoint multiple CEOs to lead its business units, Bloomberg reported.
The company is also planning to rename itself Eternal Ltd.
The moves come after Zomato won the approval to acquire another grocer-delivery startup, Blinkit.
Zomato, which is backed by Ant Group Co., Temasek Holdings Pte. and Goldman Sachs Group, Inc.GS, said in an internal memo about naming CEOs for at least four units.
“We are transitioning from a company where I was the CEO to a place where we will have multiple CEOs running each of our businesses (e.g. Zomato, Blinkit, Hyperpure, Feeding India), all acting as peers to each other, and working as a super-team with each other towards building a single large and seamless organisation,” the report cited co-founder and CEO Deepinder Goyal.
Zomato reported a smaller-than-expected loss of (1.86) billion rupees or $(23.7) million) in the quarter ending June.
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