Another SpiceJet head rolls; VP (Marketing) quits

Mumbai: With South India-based media baron Kalanidhi Maran acquiring a major stake in SpiceJet, top heads in the budget airline have started rolling with Vice President Marketing Anish Srikrishna quitting the no-frills carrier.
Four days ago, SpiceJet's CEO Sanjay Aggarwal had resigned from his post, giving a free hand to Maran to revamp the airline management. Kishore Gupta, a member of the SpiceJet board, took over his place as part of an interim arrangement.
Aggarwal's resignation had come after Maran-owned aviation company KAL Airways acquired 37.7% stake for Rs 746 crore in the airline, with the option of acquiring another 20% stake through an open offer.
The open offer would involve an outgo of around Rs 480 crore, taking the overall deal size to Rs 1,220 crore. This included Rs 786 crore worth of 37.7% stake bought from Wilbur Ross.
05/07/10 Times of India

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Categories: SpiceJet Jul 2010, Sun Airways Jul 2010