EaseMyTrip: Earning nearly ₹1 crore, Rikant Pittie replaces Nishant Pitti as CEO — Who is he? | Company Business News

EaseMyTrip co-founder Rikant Pittie has been appointed to replace his brother and promoter Nishant Pitti as CEO of the travel company, the company informed the exchanges on January 1, 2025.

In its release, the company said that the board met at 10 am today and approved Pittie’s appointment as CEO with immediate effect. He also retains his position as “key managerial personnel of the company”, it added.

In its disclosures, the company also noted that Pittie is the brother of Nishant Pitti, who is promoter of the parent company Easy Trip Planners, and resigned as CEO of EaseMyTrip recently. Further, it noted that Pittie’s current and likely remuneration as CEO is ₹96 lakh per annum.

Who is Rikant Pittie?

As per the official release, Pittie is the brother of promoters Nishant and Prashant Pitti. He is 36 years old and a BTech graduate from Kurukshetra University, Ambala. He has also previously served as CFO of the company.

The statement added that Pittie has around 15 years of experience in travel, tourism, HR and Technology and has been featured under the coveted list of 40 under 40 by Fortune India. “His work has also been recognised by prestigious institutions and is awarded the esteemed ‘Entrepreneur of the year in service business (Travel)’ by Entrepreneur India, ‘Best Travel Planner of the Year’ and ‘Bootstrapped Entrepreneur of the year’ by Hurun India,” it added.

‘Passion for Innovation Driving Force of Success’

In a February interview with Livemint, Pittie spoke about the journey of founding EaseMyTrip with his brothers and shared insights on his overall entrepreneurial career.

Founded in 2008, with a focus on Business to Business to Customer (B2B2C), the online tour and travel agency offers a range of travel products and services and end-to-end travel solutions, including airline tickets, rail tickets, bus tickets, taxis, holiday packages, hotels, and other value-added services including travel insurance, visa processing, etc.

“Venturing on the entrepreneurial journey, I’ve always been fascinated by the convergence of technology and travel. I’ve had the privilege of steering EaseMyTrip’s technological progress, ensuring seamless experiences for our users. From the inception of our platform to its evolution into a robust, user-friendly interface, my passion for innovation has been the driving force behind our success,” Pittie told Livemint.

Nishant Pitti Offloads Stake

On December 31, Easy Trip Planners promoter and co-founder Nishant Pitti divested a 1.4 per cent stake in the company for ₹78 crore through an open market transaction. According to the bulk deal data available on the NSE the ex-CEO offloaded 4.99 crore shares, or 1.41 per cent stake, in the company.,

The shares were disposed of at an average price of ₹15.68 apiece, taking the transaction value to ₹78.32 crore. After the transaction, Pitti’s holding in Easy Trip Planners has come down to 12.8 per cent from 14.21 per cent. Also, the combined promoter stakeholding in the company has also declined to 48.97 per cent from 50.38 per cent.

After the news of the divestment broke, shares of Easy Trip Planners declined 6.98 per cent to close at ₹15.85 apiece on the NSE on Tuesday. At the time of writing, the stock was in the red, down 0.19 per cent at ₹15.83 compared to open.