deepinder goyal: Zomato CEO Deepinder Goyal extends salary waiver amid QIP fundraise plan

Deepinder Goyal, the founder and CEO of Zomato, has decided to forgo his salary for an additional two years, extending the waiver until March 31, 2026, the company disclosed in its qualified institutional placement (QIP) document.

Goyal had previously waived his salary for 36 months, beginning April 1, 2021, as outlined in the food delivery giant’s FY24 annual report. This latest extension means he will not draw a salary for a total of five years.

“Vide letters dated March 24, 2021 and April 1, 2024, addressed to our Board, Deepinder Goyal has voluntarily waived his salary for a period starting from April 1, 2021 till March 31, 2026 and shall continue to discharge his roles and duties as managing director and chief executive officer during this period,” QIP document said.

Goyal holds 4.2% stake in Zomato, which was worth over Rs 10,000 crore as of date. Share price of Zomato has grown over 300% in just two years.

Recently, Goyal made headlines with a job posting on his X account, hiring ‘hungry’ Chief of Staff for himself. In the post, it was mentioned that the person should be hungry with common sense and empathy. In the job requirements, Goyal initially mentioned that the candidate will be required to donate Rs 20 lakh to Zomato’s Feeding India charity, but later said the condition was only to filter out applicants.