CEO's Bold Move: Zomato's Goyal Ditches Rs 3.5 crore Mega Salary

New Delhi (The Uttam Hindu): In a remarkable demonstration of leadership and commitment, Zomato's CEO Deepinder Goyal has elected to continue to forgo his salary till March 2026, thus reiterating commitment towards the company's long-term perspective on the food delivery industry. This is definitely a higher order of corporate practice for all time, really reflecting profound personal investment in an organization's growth trajectory. Goyal had waived his salary for three years from April 2021; now, he has chosen to extend his period for two more years. While his annual salary of Rs 3.5 crore accrues no income to him, he remains busy as Managing Director and CEO and may draw variable compensation based on the board's decisions.

This will come at a juncture when Zomato has put up an impressive market performance. There has been an astonishing increase of 140% in the stock price for the company in 2023, and it recently gained the crucial distinction of entering the venerated Sensex index. With a market capitalization of Rs 2,45,243 crore or approximately $28.8 billion, Zomato is now ahead of its immediate competitor Swiggy, which has a market capitalization of Rs 99,845 crore.Importantly, Goyal has a significant personal stake in the company as well. He owns 4.18% of the equity valued at more than Rs 10,000 crore, clearly showing that he is financially synonymous with Zomato's growth story. An Rs 8,500 crore Qualified Institutional Placement (QIP) recently got clearance, further strengthening the confidence of investors.

This strategic decision taken by Goyal reflects more than an economical choice; it becomes a strong statement about leadership, commitment, and alignment with the growth of the corporation.