In a significant leadership change, Nishant Pitti, co-founder and CEO of Easy Trip Planners, has resigned from his position effective January 1, 2025, citing personal reasons. His brother, Rikant Pitti, who previously served as the company’s Chief Financial Officer (CFO), has been appointed as the new CEO.
Details of the Resignation
Nishant Pitti’s resignation comes shortly after he sold a portion of his stake in the company. On December 31, 2024, he divested shares worth ₹78.32 crore, offloading approximately 1.41% of his stake in Easy Trip Planners. Following this transaction, his ownership in the company has decreased to 12.8%. This move aligns with earlier reports that suggested Nishant was looking to sell his stake in the company.
In his resignation letter, Nishant stated, “I hereby tender my resignation from the position of CEO due to personal reasons with effect from January 01, 2025.” The announcement has impacted the company’s stock performance, with shares trading down by approximately 0.82% at ₹15.74 following the news.
Rikant Pitti: The New CEO
Rikant Pitti, who co-founded Easy Trip in 2008 alongside Nishant, brings over 16 years of experience in travel and tourism to his new role. As CFO, he played a crucial role in the company’s financial strategy and growth. In his new position as CEO, Rikant is expected to lead strategic initiatives, drive innovation, and enhance customer experiences to strengthen EasyMyTrip’s position in the competitive travel industry.
Rikant expressed his enthusiasm for taking on this new challenge: “The travel industry is at a transformative juncture where technology and personalization are redefining how people explore the world. I am both honored and thrilled to take on this role and look forward to continuing the company’s journey.”
Company Background
Easy Trip Planners operates under the brand EaseMyTrip and has seen fluctuating stock performance over the past year. In 2024, shares of Easy Trip Planners fell by 15.7%, contrasting with an 8.2% rise in the Sensex during the same period.
Despite recent changes in leadership and shareholding dynamics, the Pitti family remains committed to maintaining a significant stake in the company. During a previous earnings call, Managing Director Prashant Pitti emphasized their dedication to Easy Trip Planners and its stakeholders.
Conclusion
Nishant Pitti’s resignation marks a pivotal moment for Easy Trip Planners as it transitions leadership to Rikant Pitti. The coming months will be crucial for the company as it adapts to this change and aims to enhance its market presence in the travel sector.
Disclaimer
This article is based on information available as of January 1, 2025. For the latest updates regarding Easy Trip Planners and its leadership changes, please refer to official company announcements and financial reports.
