MakeMyTrip Limited, India’s leading online travel company, has today announced the resignation of Ashish Kashyap, Co-Founder and President, with effect from September 30, 2017. The MakeMyTrip Board has accepted the resignation and MakeMyTrip (India) Pvt Limited and Ibibo Group Private Limited have entered into a separation agreement with Mr. Kashyap. This agreement provides among other things, final settlement of dues and benefits to Mr. Kashyap and certain obligations on Mr. Kashyap including Non-Solicitation and Non-Competition which shall continue until September 30, 2019.
Deep Kalra, Group Chairman and Group CEO, MakeMyTrip, said, “Ashish has made immense contribution in bringing the MakeMyTrip-ibibo deal to fruition and setting a strong foundation for the future success of the combined group. At this juncture, I respect his passion for creating and nurturing new and innovative ideas and we wish him the best for the future.”
Ashish Kashyap said, “The last ten years have been a fantastic journey and I feel privileged to have played a part in the creation and rapid growth of several leading technology brands in India. The merger with MakeMyTrip this year is one of my proudest moments, and I look forward to seeing their continued success. At the same time, I am extremely excited to be spending more of my time creating new opportunities.”
Today MakeMyTrip and Japanese travel major HIS Co have also invested close to $10 million in online holiday marketplace, GoFro in its second round of equity financing. Last month, MakyMyTrip also announced the launch of ‘MyBusiness’ to tap into the growing corporate travel segment in India. As part of this new solution, MyBusiness will provide a convenient, transparent and efficient self-booking tool that employees can use from the same MakeMyTrip app for their business travel.