The Indian multinational online travel company EaseMyTrip announced on Wednesday, January 1, 2025, that its Co-Founder and CEO, Nishant Pitti, has resigned due to personal reasons. Now, his brother and Co-Founder, Rikant Pitti, has taken charge as the company’s CEO. Rikant is currently EaseMyTrip’s Executive Director. In its disclosure, EaseMyTrip shared that Rikant Pitti’s current remuneration as CEO is Rs 96 lakh per annum.
Who is Rikant Pittie?
As per reports, Rikant Pitti, brother of Nishant Pitti, is the company’s former CFO. The 36-year-old B-Tech graduate from Kurukshetra University, Ambala, has 15 years of experience in travel, tourism, HR, and technology. He was also featured in the Fortune India list of 40 under 40, greatly desired by business persons. Over time, Rikant Pitti secured prestigious awards like Entrepreneur of the Year in Business (Travel) by Entrepreneur India, Best Travel Planner of the Year, and Bootstrapped Entrepreneur of the Year by Hurun India.
Nishant Pittie Offloading Stakes
On December 31, the ex-CEO Nishant Pitti sold a 1.4% stake in the company for Rs 78 crore via an open market transaction. The shares were deposited for Rs 15.68 each. After the transaction, Nishant’s holding in the company dropped to 12.8% from 14.21%. The combined promoter stakeholding in EaseMyTrip also decreased to 48.97% from 50.38%.
After the news of the divestment came out, the company shares declined 6.98% to close at Rs 15.85 apiece on the NSE (National Stock Exchange) on Tuesday, December 31, 2024.
