MakeMyTrip has recently announced that its current Group Chief Executive Deep Kalra will be stepping down from his position giving the helm of the company to Rajesh Magow.
“(Kalra) will devote his full time to pursuing strategic initiatives, including product innovation and expansion, geographic growth, business model innovation, and corporate development, in his new role as Group Executive Chairman,” said a company statement.
While Kalra will now handle the position of Group Executive Chairman, co-founder Rajesh Magow, who was heading the company’s India business will now take over Kalra’s role.
“In his role as Group CEO, Mr. Magow will focus on driving the next phase of growth for the MakeMyTrip Group through its three strong brands, MakeMyTrip, Goibibo and Redbus and will continue to work closely with Mr. Kalra,” the company statement added.
This move by the company effectively separates the role of CEO and Executive Chairman.
“We believe that separating the roles of Group CEO and Executive Chairman will allow us to focus more on long-term strategic opportunities within and outside India while maintaining our market-leading position in our existing businesses,” Kalra said.
MakeMyTrip was founded by Deep Kalra and Rajesh Magow in 2000. It was among the first Indian internet-based companies to go public on Nasdaq. The company is currently India’s largest online travel operator at a valuation of $2.7bn.
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