Easy Trip Planners CEO Nishant Pitti Resigns, Brother Rikant Takes Over
In a significant leadership change, Nishant Pitti, the CEO and co-founder of Easy Trip Planners, stepped down from his role effective January 1, citing personal reasons. This transition, disclosed in an exchange filing, marks a pivotal moment for the company, famously known for its travel platform EaseMyTrip. Rikant Pittie, Nishant's brother and the company’s CFO, has been appointed as the new CEO. Rikant brings extensive expertise to the role, with over 15 years of experience in travel, tourism, HR, and technology.
This leadership shift coincides with a notable reduction in Nishant Pitti’s stake in the company. On December 31, Nishant sold 4.99 crore shares in a block deal, equivalent to a 1.41% stake, for ₹78.32 crore. This transaction reduced his overall holding in Easy Trip Planners to 12.8%. The promoter group’s collective stake also declined from 50.38% to 48.97%. Notably, Nishant had previously offloaded a significant 14% stake, worth ₹920 crore, in September 2024. Despite these changes, the Pitti family has reiterated their commitment to the company, maintaining majority ownership.
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Easy Trip Planners has faced fluctuations in its stock performance. In 2024, the company’s shares declined by 15.7%, in contrast to an 8.2% rise in the Sensex. The recent block deal further impacted share prices, which closed nearly 7% lower on December 31 after dipping by as much as 10% intraday.
Rikant Pittie, a graduate of Kurukshetra University, has served on the board since 2011 and is also associated with several ventures, including Spree Hotels and Yolobus. As CEO, he aims to steer the company through evolving industry dynamics while enhancing shareholder value.
This transition underscores the challenges and opportunities facing Easy Trip Planners as it navigates a competitive market. While Nishant Pitti’s departure marks the end of an era, Rikant’s leadership ushers in a new chapter for the company.
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