EaseMyTrip Restructures Leadership as It Expands Global Presence
Indian online travel company EaseMyTrip underwent a significant leadership change at the start of the year when co-founder Nishant Pitti stepped down as CEO, citing personal reasons at the time. His brother, Rikant Pittie, who previously served as the company’s chief financial officer, assumed the role.
In a recent earnings call, Nishant clarified that he remains actively involved in the company as chairman. Addressing investor concerns about the leadership transition, he explained that his decision to step down was driven by the need to oversee EaseMyTrip’s international expansion, which requires extensive travel outside India. However, he did not comment on his decision to reduce his stake in the company. Currently holding just under 13%, he had sold 13.9% of his shares in September 2023. Additionally, no further explanation was provided regarding why he initially attributed his resignation to personal reasons.
Despite stepping down as CEO, Nishant continues to be engaged in the company’s operations. EaseMyTrip managing director Prashant Pitti reaffirmed this, emphasizing that Nishant had only resigned from the CEO position and remained an active member of the leadership team. He assured investors that there had been no disruption in management.
EaseMyTrip has been intensifying its focus on global markets, particularly in Dubai, where it recorded a 227% year-on-year growth in the past quarter. The company’s gross booking revenue in the region reached $19.6 million.
Highlighting the company’s success in international markets, Rikant stated that the growth in Dubai underscored EaseMyTrip’s ability to capitalize on global opportunities and reinforced its commitment to expanding its footprint abroad. Looking ahead, he emphasized that the company would prioritize scaling its profitability, diversifying its non-air verticals, and strengthening its global operations.
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