Sanjiv Kapoor has stepped down as chief operating officer of SpiceJet, bringing to an end a seesaw two-year tenure marked by the low-cost airline's string of financial losses, near closure, changed ownership and eventual return to profitability.
Friday will be the last working day at SpiceJet for Kapoor, who was previously CEO of GMG Airlines of Bangladesh and leader of airline practice at global consultancy Bain, confirmed two executives of the airline.
Kapoor, 48, is expected to join another airline. Kapoor, whose contract runs until November 2016, joined SpiceJet on November 1, 2013.
As COO, Kapoor in effect helmed SpiceJet when it was owned by Kalanithi Maran of Sun Group (as a US passport holder, his elevation to CEO was held up by regulatory clearances). But after Maran exited SpiceJet due to a severe cash crunch last December - when the airline flirted with closure - by transferring ownership to Ajay Singh, a co-founder of the airline, he retreated to a supporting role.
Kapoor's role diminished dramatically after Singh took over. Singh, emboldened by his experience as co-founder, took over the reins over the airline completely. Not only was Singh hands-on, calling the shots on the nitty-gritty of operations, he also became the company's official spokesman, a task that Kapoor earlier performed.
29/10/15 Binoy Prabhakar/Economic Times
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Friday will be the last working day at SpiceJet for Kapoor, who was previously CEO of GMG Airlines of Bangladesh and leader of airline practice at global consultancy Bain, confirmed two executives of the airline.
Kapoor, 48, is expected to join another airline. Kapoor, whose contract runs until November 2016, joined SpiceJet on November 1, 2013.
As COO, Kapoor in effect helmed SpiceJet when it was owned by Kalanithi Maran of Sun Group (as a US passport holder, his elevation to CEO was held up by regulatory clearances). But after Maran exited SpiceJet due to a severe cash crunch last December - when the airline flirted with closure - by transferring ownership to Ajay Singh, a co-founder of the airline, he retreated to a supporting role.
Kapoor's role diminished dramatically after Singh took over. Singh, emboldened by his experience as co-founder, took over the reins over the airline completely. Not only was Singh hands-on, calling the shots on the nitty-gritty of operations, he also became the company's official spokesman, a task that Kapoor earlier performed.
29/10/15 Binoy Prabhakar/Economic Times
