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Zomato CEO Deepinder Goyal extends salary waiver until 2026
Deepinder Goyal has decided to forgo his salary for an additional two years, extending his earlier waiver until March 31, 2026. This marks a five-year period during which the CEO will not draw a salary, emphasizing his commitment to the company’s growth and sustainability.
As of now, Deepinder Goyal holds a 4.2% stake in Zomato, valued at over Rs 10,000 crore.
Deepinder Goyal, the founder and CEO of Zomato, has voluntarily waived his salary for another two years, as revealed in the company's qualified institutional placement (QIP) document, as per reports.
Goyal had initially foregone his pay starting April 1, 2021, for a period of 36 months. This new decision extends the waiver until March 31, 2026, bringing the total duration of the new salary waiver to five years.
The QIP document highlights, "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."
As of now, Goyal holds a 4.2% stake in Zomato, valued at over Rs 10,000 crore. Zomato's share price has soared by more than 300% over the past two years.
Goyal recently captured public attention with a job posting on his social media accounts for a Chief of Staff position. The job description called for a "hungry" candidate with empathy and common sense. Initially, the posting included a requirement for applicants to donate Rs 20 lakh to Zomato's Feeding India charity, but Goyal clarified that the condition was only meant to filter serious applicants.
The viral post garnered widespread reaction from netizens, with Shaadi.com's founder Anupam Mittal also joining the bandwagon. Mittal shared a cheeky post on his LinkedIn: "All those who can't afford to pay my friend Deepi 20 lacs, pls send me your application. I am looking for a Chief of Staff too 💪 although I don't know exactly what one does, I figure it can be your first assignment."
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