Rohit Chadda quits as Foodpanda India MD

Foodpanda India managing director Rohit Chadda is said to have quit the company.

"I have personally decided to step aside from my role as MD of the company to pursue new initiatives.

I have resigned from the position from August 1," the Press Trust of India quoted Chadda as saying.

An email sent to a representative of Foodpanda, a Rocket Internet-backed global, multi-location online food ordering marketplace, did not elicit a response till the time of writing this report.

PTI added that Chadda will continue to be a shareholder in the company without being involved in daily operations.

Chadda's exit was on the cards after Saurabh Kochhar was appointed Foodpanda India's CEO and chief business officer (CBO) for its global operations in March.

Chadda said that he would start a new mobile-based venture without divulging much details.

Started in 2007 with headquarters in Berlin, Rocket Internet builds consumer internet companies on its platform. It brings in industry executives, gives them stakes in its companies and designates them as CEO/COO. Thus, Chadda was designated as a co-founder even though Foodpanda was not his brainchild.

Foodpanda operates under Hellofood brand in some markets.

In May, Foodpanda had raised $100 million in a round led by Goldman Sachs.