Easy Trip Planners’ co-promoter Nishant Pitti resigns as CEO

1 Jan 2025 , 03:30 PM

Nishant Pitti, a co-promoter of Easy Trip Planners Ltd., the parent firm of online travel aggregator EaseMyTrip, has resigned as CEO, effective January 1, 2025, citing personal reasons.

Pitti has been on the company’s board since 2008, and was reappointed for a five-year term in May of last year.

Nishant Pitti announced plans on Monday evening to sell his remaining 14% ownership in Easy Trip Planners in block sales. However, he was only able to sell 1.4% of his share on Tuesday.

The company has announced the hiring of Rikant Pitti, one of the company’s promoters, as its new CEO, effective immediately.

Rikant will oversee the company’s strategic objectives, promote innovation, and improve customer experiences to further boost EaseMyTrip’s industry position, according to a release.

In June 2023, Pitti sold 6.25 crore shares of the corporation. According to reports, Prashant Pitti has stated that the company’s promoters have no plans to sell any additional stakes in the company.

Retail investors absorbed the vast majority of Pitti’s stake sale. Easy Trip Planners’ retail stake has climbed from 6% at the time of its initial public offering in 2021 to over 34%. 

At around 12.18 PM, Easy Trip Planners was trading 0.50% lower at ₹15.78, against the previous close of ₹15.86 on NSE. The counter touched an intraday high and low of ₹15.94, and ₹15.68, respectively.

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