Easy Trip Planners share price down as CEO Nishant Pitti resigns citing personal reasons

Easy Trip Planners promoter and co-founder Nishant Pitti has resigned as chief executive officer (CEO) of the company, citing personal reasons. On Tuesday, he divested a 1.4% stake in the travel firm for ₹78 crore via an open market transaction.

The equity shares were disposed of at an average price of ₹15.68 a unit, translating to a transaction value of ₹78.32 crore.

Following the transaction, Pitti's holding in Easy Trip Planners was reduced to 12.8% from 14.21% earlier.

In September 2023, Pitti offloaded a 14% stake for ₹920 crore through the open market transaction.

Easy Trip Planners share price declines

Shares of Easy Trip Planners declined 0.6% to ₹15.76 apiece on the National Stock Exchange. Intraday, it fell as much as 1.13%.

Rikant Pittie appointed as new CEO

On Wednesday, EasyMyTrip announced the appointment of Rikant Pittie as its new CEO.

Rikant co-founded EaseMyTrip in 2008 and has been a key part of its growth and success. He has more than 16 years of experience in travel and tourism.

On his appointment as CEO, Rikant Pittie said, "The travel industry is at a transformative juncture where technology and personalisation are redefining how people explore the world. At EaseMyTrip, our mission goes beyond simply offering an enhanced travel experience. It is about setting new benchmarks."

"I am both honoured and thrilled to take on this role and look forward to continuing the company's journey," he added.