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Home / News / Business News / Ibibo founder and MakeMyTrip MD Ashish Kashyap resigns
  • Business

    Ibibo founder and MakeMyTrip MD Ashish Kashyap resigns

    Shiladitya Ray
    Written by
    Shiladitya Ray
    Mail
    Last updated on Sep 07, 2017, 03:44 pm
    Ibibo founder and MakeMyTrip MD Ashish Kashyap resigns
  • Ashish Kashyap, the founder of the Ibibo Group and the president of India's largest online travel operator MakeMyTrip, announced his resignation yesterday.

    The resignation was confirmed by the NASDAQ-registered company in a filing submitted with the US Securities and Exchange Commission.

    The MakeMyTrip board accepted his resignation and Kashyap's last working day will be 30th September.

  • In this article
    MakeMyTrip's statement on Kashyap's resignation Kashyap played an instrumental role in Ibibo's sale MakeMyTrip CEO acknowledges Kashyap's contribution Ashish Kashyap's career
  • Quote

    MakeMyTrip's statement on Kashyap's resignation

  • MakeMyTrip and Ibibo Group "have entered into a separation agreement with Kashyap. This agreement, provides among other things, final settlement of dues and benefits to Mr Kashyap and certain obligations on Kashyap, including Non-Solicitation and Non-Competition [till 2019]," said MakeMyTrip's statement.

  • Ibibo deal

    Kashyap played an instrumental role in Ibibo's sale

    Kashyap played an instrumental role in Ibibo's sale
    Credits:
  • Kashyap had been associated with the Ibibo Group for for 10 years.

    In October 2016, MakeMyTrip completed the acquisition of Ibibo Group. The $2 billion all-stock deal was considered to be the largest in the Indian internet space.

    Kashyap played an instrumental role in bringing the MakeMyTrip-Ibibo deal to fruition, and was consequently praised for his "immense contribution" by MakeMyTrip CEO Deep Kalra.

  • Quote

    MakeMyTrip CEO acknowledges Kashyap's contribution

  • "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," said Deep Kalra, the group chairman and group CEO of MakeMyTrip.

  • Kashyap's career

    Ashish Kashyap's career

    Ashish Kashyap's career
  • Kashyap holds a undergraduate degree in economics from DU's Kirori Mal College, and a Masters from McGill University, Canada.

    Then he spent three years at the digital arm of Economic Times publisher Bennett Coleman & Co.

    Kashyap then moved to Google in 2005 and after completing his stint there, formed Ibibo Group which was initially set up as a greenfield incubator.

  • India
  • NASDAQ
  • MakeMyTrip
  • Kirori Mal College
  • US Securities and Exchange Commission
  •  
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