Who Is Rikant Pittie - The New CEO Of Easy Trip Planners?

Rikant Pittie, the former CFO of Easy Trip Planners has recently taken over as the current CEO of the company, because Nishant Pitti has stepped down from the position, due to personal reasons.

Who Is Rikant Pittie?

Rikant Pittie, had previously served as the CFO of the company and is also Nishant's brother. He has been appointed as the Chief Executive Officer with immediate effect.

Rikant Pittie is a B-Tech graduate from Kurukshetra University and the Founder of the travel portal EaseMyTrip.com.

He has an extensive knowledge of business which comes solely from prior business experience.

He also knows about the nitty gritty of e-commerce and knows how to accelerate domains into fruitful extensions of brands, efficiently.

Additionally, he has an overall knowledge of finance coupled with solid problem solving skills and the vision to look 20 years down the line.

Rikant Pittie has also won the prestigious Fortune India 40 under 40 and Entrepreneur India's Entrepreneurship of the year in service business in the 'travel' category.

Why Did Nishant Step Down?

Nishant Pitti is a co-promoter of Easy Trip Planners Ltd which is the parent company of travel aggregator platform EaseMyTrip. He decided to step down from the position of CEO effective January 1.

He had disclosed his intentions of divesting his remaining 14 per cent ownership is Ease My Trip Planners through block deals, but only 14 per cent was successfully sold on Tuesday.

Through a block deal on December 31, EaseMyTrip shares worth ₹78.32 crore were sold by co-founder Nishant Pitti.

This resulted in the offloading of 4.99 crore shares or a 1.41 per cent stake in the company.

After this transaction, Nishant Pitti's ownership in the company has decreased to 12.8 per cent along with his promoter holding which has declined to 48.97 per cent, as compared to the prior 50.38 peer cent.

On September 25, he sold 24.65 crore shares, which made up 14 per cent of the total share capital and totalled to Rs 920 crore.

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