Rajan joined the Delhivery board in July 2015 and played a key role in the company’s formative years and expansion.

“Sri has been instrumental in instilling a strong sense of governance and control since the earliest days of Delhivery,” CEO and MD Sahil Barua said.

The announcement was part of a wider board rejuvenation at the company, which reported its April-June quarter on Friday. Yashish Dahiya, chairman & CEO of PB Fintech, and Padmini Srinivasan, chairperson of the Centre for Corporate Governance and Sustainability at IIM Bangalore, will join the board as non-executive independent directors.

In an exchange filing, Delhivery said this transition will occur over the next four quarters.

The company reported an increase of 68.5% in its net profit year-on-year (YoY) to Rs 91 crore, driven by operational efficiency gains and a stable revenue base. Operating revenue came in at Rs 2,294 crore, up 6% from the same period last year.