SpiceJet overhauls top management

New Delhi: Delhi-based low-cost carrier SpiceJet is looking at restructuring its core leadership team as part of US investor Wilbur Ross’s strategy of turning around the company.
Four or five months after Ross came on board following a Rs 345-crore investment in the company, five top executives from the airline’s leadership team have quit. These are Chief Executive Officer (CEO) Siddhanta Sharma, Chief Financial Officer (CFO) Parthasarathy Basu and Executive Vice-President (flight operations), JS Dhillon and Head of Engineering Neil Charters. Company sources said Director Kishore Gupta, who is heading customer relations, is also on the move.
The new CEO, Sanjay Aggarwal, who was former chief of US air service provider Flight Options, took charge at the end of October and Charters was replaced by Robert Bryant as head of operations. The earlier head of airports I P Singh has been replaced by V Ankesh, and former chief pilot Jack Ekl is heading flight operations .
The company is now looking for a chief financial officer and the customer relations department now reports directly to the new CEO.
The cash from Ross has been partly used to pay off the carrier’s airport, oil and hotel dues.
“I cannot say there has been a clear mandate for a change in the team but at the end of the day we have to ensure that the right people are doing the right jobs,” Aggarwal said.
Aggarwal also confirmed that the company may pare the top management structure if it is required under a plan to consolidate the company’s HR structure. “If there are some decisions to be taken, we will go ahead and take them,” he said.
10/12/08 Anirban Chowdhury/Business Standard

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Categories: SpiceJet Dec 2008