Deepinder Goyal, the CEO of Zomato, stated on Friday that he will contribute to the Zomato Future Foundation any income from employee stock options (Esops) he received from investors and the board of directors (ZFF).
These Esops are worth roughly $90 million (Rs 700 crore) based on Zomato’s average share price over the last month, he claimed.
Zomato’s stock fell to a 52-week low of Rs 57.65. The stock has dropped 62% since hitting an all-time high in November of last year.
“To reap the most benefit for ZFF, and protect the interests of our shareholders, I do not intend to liquidate all these shares immediately but over the next few years. For the first year, I will liquidate less than 10% of these Esops towards this fund,” Goyal said.
He went on to say that the Future Foundation will welcome donations from additional Zomato employees as well as explore other fundraising options. It also intends to establish a separate governing board.
