Ashish Kashyap Resigns as Co-Founder & President at MakeMyTrip
MakeMyTrip Limited (NASDAQ: MMYT), 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.”