Deep Kalra, the founder of online travel agency MakeMyTrip, has stepped down as group chief executive officer (CEO) of the Gurugram-based company, with MMT co-founder and India CEO Rajesh Magow Rajesh Magow taking over the lead. Rajesh Magow, who was till recently CEO of MakeMyTrip India, will now take over as group chief executive, a move that effectively separates the two roles.
Kalra, a St Stephen’s College and IIM-Ahmedabad alumni, will now serve as executive chairman, the company said in a statement.
“(Kalra) will devote his full time to pursuing strategic initiatives, including product innovation and expansion, geographic growth, business model innovation and corporate development, in his new role as Group Executive Chairman,” the company said.“In his role as Group CEO, Mr Magow will focus on driving the next phase of growth for the MakeMyTrip Group through its three strong brands, MakeMyTrip, Goibibo and Redbus and will continue to work closely with Mr Kalra,” the statement added.
The company, founded by Kalra in 2000, was among the earliest Indian consumer internet companies to go public when it made its $70 million debut on the Nasdaq in 2010.