 "Nishant Pitti steps down as EaseMyTrip CEO, brother Rikant takes charge")
Nishant Pitti, a co-founder of EaseMyTrip, has stepped down as CEO of the company, effective January 1, citing personal reasons, the company said in an exchange filing.
His brother, Rikant Pittie, company's CFO, has been appointed as the new CEO on the immediate basis.
"EaseMyTrip.com has announced the appointment of Rikant Pittie as its Chief Executive Officer (CEO) and Co-founder. In his new role, Rikant will lead the company’s strategic initiatives, drive innovation, and enhance customer experiences to further strengthen EaseMyTrip’s position in the industry," it said in the filing.
Earlier, it was reported that Nishant Pitti was considering selling his stake in the company. On December 31, he sold Easy Trip shares worth Rs 78.32 crore in a block trade, offloading 4.99 crore shares, which represents 1.41 per cent of the company's equity. Easy Trip Planner is the parent company of the brand EaseMyTrip.
Following the transaction, Pitti’s ownership in the company dropped to 12.8 per cent, while the combined promoter stake decreased from 50.38 per cent to 48.97 per cent.
In September, Pitti had sold 24.65 crore shares, or 14 per cent of the company’s total share capital, valued at Rs 920 crore.
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Rikant Pittie, a graduate of Kurukshetra University, Ambala, brings 15 years of experience in travel, tourism, HR, and technology. He joined the Easy Trip board in August 2011, and is also involved in several privately held businesses, including Easy Builders, Bhoomika Fabricators, Spree Hotels, Yolobus, Moneyleader Finance, Travelluxe EMT, and Vehide.Com.
Rikant Pittie, CEO and co-founder, said, “At EaseMyTrip, our mission goes beyond simply offering an enhanced travel experience. It is about setting new benchmarks. We are dedicated to pioneering innovative solutions that empower travellers globally. I am both honoured and thrilled to take on this role and look forward to continuing the company’s journey.”