EaseMyTrip CEO Nishant Pitti Resigns, CFO Rikant Pitti Takes Charge
In September, Pitti had sold 24.65 crore shares, equivalent to 14 per cent of the company’s total share capital, raising Rs 920 crore
Nishant Pitti, one of the promoters of Easy Trip Planners, has stepped down as the company's CEO effective January 1, citing personal reasons, according to an exchange filing. Rikant Pitti, the company’s CFO and Nishant’s brother, has been appointed as the new CEO with immediate effect.
Earlier this week, according to media reports, Nishant Pitti was planning to sell his stake in the company. On December 31, Easy Trip shares worth Rs 78.32 crore were sold in a block deal, with Nishant Pitti as the seller. He offloaded 4.99 crore shares, representing a 1.41 per cent stake in the company. EaseMyTrip is the brand operated by the publicly listed Easy Trip Planners.
Following the December 31 transaction, Nishant Pitti's stake in the company reduced to 12.8 per cent. The combined promoter holding also declined, dropping from 50.38 per cent to 48.97 per cent.
In September, Pitti had sold 24.65 crore shares, equivalent to 14 per cent of the company’s total share capital, raising Rs 920 crore.
