India, July 25 -- Swiggy has reconstituted its board of directors following its initial public offering (IPO) last year, with a new independent director joining the board and early stage investors stepping down.

While Faraz Khalid, chief executive of UAE-based ecommerce company Noon, has joined Swiggy's board as an independent director, SoftBank's Sumer Juneja and Accel partner Anand Daniel have resigned from the board.

SoftBank and Accel are among Swiggy's early backers.

"With Khalid's joining our board, our independent directors represent four pillars of strategic governance. They bring a wide array of experience across established companies and startups, and marry business and financial acumen with fiduciary expertise," said Srihars...