Deep Kalra, the group CEO of MakeMyTrip, has announced that he is all set to step down from his role as the CEO. In place of Kalra, co-founder Rajesh Magow would take over the role of CEO. Before this announcement Magow had been responsible for Online business in India and with the new enforcement he would be taking charge as CEO.
Deep Kalra, a very well-known success enterprenuer started MakeMyTrip in 2000, will now serve as the Executive Chairman on the MakeMyTrip board. As the chairman, he will be responsible to drive strategic initiatives, focus on product innovation and expansion, geographic growth, business model innovation and overall corporate development.
Magow, an alumni of Institute of Chartered Accountants of India, started his career with Voltas and has also worked with Aptech Limited and Quantum. He also serves as an independent director on the board of Flipkart.
“The board and I have the utmost confidence in Rajesh’s capabilities in his elevated role to drive the next phase of growth for the group through its three strong brands, MakeMyTrip, Goibibo, and Redbus. In this role, he will continue to work closely with me.”
MakeMyTrip’s Q3 results of FY19-20 reported an adjusted net loss of $15.8 Mn as opposed to $14.8 Mn in the same quarter of last year.
As the travel industry faces heavy competition, Kalra’s move to a strategic role is expected lead to lower losses for the company in the next quarter.