EaseMyTrip has announced Rikant Pittie’s appointment as its new Chief Executive Officer (CEO), effective immediately. The decision was finalized during the company’s board meeting on January 1, 2024.
Rikant Pittie, who previously served as the Chief Financial Officer (CFO) and Executive Director, will now assume the CEO role and act as the Key Managerial Personnel. As a co-founder and core promoter of EaseMyTrip, Rikant brings nearly 15 years of experience in the travel, tourism, HR, and technology sectors to his new position.
This leadership change follows the resignation of Nishant Pitti, who stepped down from the CEO role, citing personal reasons. In his resignation letter, Nishant expressed his gratitude for the opportunity and requested to be relieved of his duties.
Reports suggest that Nishant Pitti may sell his remaining 14.21% stake in the online travel platform through a block deal, valued at approximately Rs 780 crore.
EaseMyTrip has experienced a mixed financial performance recently. The company reported flat growth in Q2 FY25, with revenue (less service cost) increasing marginally to Rs 131 crore from Rs 130.7 crore in Q2 FY24. Under IFRS standards, revenue from operations stood at Rs 145 crore, while net profits fell by 42.6%, declining to Rs 27 crore from Rs 47 crore in the same quarter of the previous fiscal year.
This leadership transition marks a significant phase for EaseMyTrip as it navigates challenges in the travel industry while pursuing strategic growth opportunities.
