Saturday, April 28, 2018

IndiGo president resigns, plans to start new venture

New Delhi: In a sudden development, low cost carrier(LCC) IndiGo announced on Friday that its president Aditya Ghosh has resigned and co-founder Rahul Bhatia will be the interim CEO. Ghosh, arguably India’s most successful and highest paid airline chief, was handpicked by Bhatia and was associated with the LCC right from its inception. He is leaving the airline to start a new venture.
The churn comes as the 2006-founded IndiGo is preparing for its next phase of growth — medium- to longhaul international flights on wide-bodied planes — after becoming the largest domestic player with 40% market share. This phase may see people with experience of new market playing a key role.
In a regulatory filing to the BSE on Friday, IndiGo said the board of directors has accepted Ghosh’s resignation as president, effective July 31, 2018, and as a director from Thursday (April 26).
Bhatia wrote an internal mail on Friday to surprised employees about the “mixed emotions” on Aditya leaving the company on July 31 “to explore starting a new business venture… For the last 10 years, Aditya has led his team relentlessly in building IndiGo to be India’s largest airline”. Bhatia thanked “Aditya for all his hard work and contributions and for successes that the company has enjoyed”. Ghosh wrote to employees: “It’s been an exhilarating ride to say the least… But it’s now time for me to step off the treadmill and get ready for my next new adventure.”
As part of this big churn, IndiGo appointed Gregory Taylor as senior adviser to the company, reporting directly to Bhatia.
28/04/18 Times of India