“We wish to inform you that Sunil Kumar Bansal has tendered his resignation from the position of company secretary and compliance officer of the company,” the filing said. “His resignation has been accepted by the Company on May 03, 2023, and he will be relieved from his services with effect from May 31, 2023.”
Delhivery said it is in the process of appointing a suitable candidate as Bansal’s replacement by May 31.
This is the second senior-level exit from the company in recent weeks. In April, chief customer experience officer Abhik Kumar Mitra had resigned. Mitra was the CEO of Spoton, a logistics company Delhivery had acquired for $300 million in 2021.
The development comes amid increasing competition in the space. The Gurgaon-based logistics firm has seen its market share in e-commerce shipments slip to an estimated 21.5% in 2022-23 (April-March), from 23% in FY22. That share is expected to slide further to 19% by FY30, according to a report by brokerage firm Bernstein.
The Bernstein report noted that Delhivery’s market share had shot up to 22-23% in FY22 from 15-16% in FY21.
Discover the stories of your interest
