Appointment of Aditya Mangla as the New Head at Eternal Food Delivery Operations
In a recent shake-up at Eternal, a prominent player in the foodtech sector, Aditya Mangla has been appointed as the CEO of its food ordering and delivery business. This move comes amidst sluggish growth in the food delivery segment for Eternal.
Mangla, who joined Eternal in March 2021, has demonstrated a progressive career within the company. He has held multiple leadership roles, including serving as the head of product for food ordering and delivery, head of supply, and head of customer experience. Prior to his appointment as CEO, he also served as the chief of staff to Eternal's founder and CEO, Deepinder Goyal.
Mangla's roles have emphasised both operational efficiency and product leadership, contributing significantly to the growth and quality of Eternal's food delivery service. Before joining Eternal, he gained diverse experience across technology and operations sectors by working at companies such as HCL Technologies, Bloomberg LP, and Woo.
Rakesh Ranjan, who previously served as the CEO of Eternal's food ordering and delivery business, has completed his two-year stint. Mangla's appointment marks a continuation of his leadership within Eternal's food delivery operations.
The company has cited several reasons for the slow growth of its food delivery business, including a shortage of delivery workers, a sluggish demand environment, cannibalisation of food delivery by quick commerce, and its decision to delist 19,000 restaurants.
Meanwhile, competition in the food delivery space is expected to intensify as ride-hailing unicorn Rapido enters the segment. Existing players like Zomato, founded in 2008 and headquartered in Gurugram, are also significant players in the sector. Zomato's founders include Deepinder Goyal and three others, and the company has secured a total funding of $4.6 Bn. It is worth noting that Zomato levies a long-distance fee.
Shares of Eternal ended the trading session 1% lower at INR 258.65 on the BSE, reflecting the challenges faced by the company in its food delivery business. Mangla's appointment and the challenges ahead present an interesting narrative for the future of Eternal's food delivery business.
Aditya Mangla, in his new role as CEO, will leverage his experience in both operational efficiency and product leadership to potentially revitalize Eternal's sluggish food delivery business, as the company faces competition from ride-hailing unicorn Rapido and other established players like Zomato.
Eternal's financial health and investor confidence, evident in the 1% drop in its share price, will be closely ties to Mangla's strategic decisions and ability to adapt to the challenges within the food-and-drink sector, including the shortage of delivery workers, sluggish demand, and the impact of quick commerce.
