Nishant Pitti Steps Down as Easy Trip Planners CEO; Rikant Pittie Takes Over

Easy Trip Planners, the parent company of online travel platform EaseMyTrip, announced on Monday that Nishant Pitti has stepped down as Chief Executive Officer (CEO), effective January 1, 2025. The company cited personal reasons for his resignation.

The board of directors has appointed Rikant Pittie, Nishant’s brother and a co-founder of the company, as the new CEO. Rikant previously served as the Chief Financial Officer (CFO) and holds the largest promoter stake in the company.

The leadership transition follows a key financial move by Nishant Pitti, who sold 1.4% stake in the company via a bulk deal on December 31. According to NSE data, he offloaded 4.99 crore shares at an average price of ₹15.68 per share, amounting to ₹78.32 crore in total transaction value.

As of the most recent shareholding data filed with the BSE:

• Nishant Pitti held 14.21% stake (50.37 crore shares)

• Rikant Pittie held 25.88% stake (91.72 crore shares)

• Prashant Pitti held 10.29% stake (36.46 crore shares)

• LIC held 2.17% stake as a non-promoter shareholder

The leadership change comes at a time when the company is expanding through acquisitions and navigating volatile stock performance. On January 1, Easy Trip Planners' stock fell over 1% in morning trade, extending its previous session loss of 7%, which followed the disclosure of Nishant's bulk share sale.

The company recently announced that it has entered into definitive agreements for three acquisitions, aiming to strengthen its position in the competitive travel sector.

The new CEO, Rikant Pittie, is expected to steer the company into its next growth phase while maintaining continuity in leadership as one of the founding promoters.