Swiggy Instamart loses COO and CBO as inventory-model pivot stalls; Ankit Jain heads to Nykaa

COO Ankit Jain and CBO Hari Kumar have resigned from Swiggy Instamart, with Jain reportedly joining Nykaa as head of operations. Departures follow shareholders falling short of the 75% threshold needed to approve Swiggy's IOCC transition for an inventory-led quick commerce model, while FY26 losses widened 33% to ₹4,154 Cr.

— Filed Wed, 24 Jun, 2026, 20:03 IST · Source Inc42 · Updated

Swiggy Instamart's COO Ankit Jain and CBO Hari Kumar have resigned, with Jain reportedly joining Nykaa as head of operations. Exits follow shareholders rejecting Swiggy's IOCC transition needed for an inventory-led quick commerce model.

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