Deep Kalra, the founder of online travel agency MakeMyTrip, has stepped down as group chief executive officer (CEO) of the Gurugram-based company, with MMTco-founder and India CEO Rajesh Magow Rajesh Magow taking over the lead. Magow, who was leading the India business of the online travel agency, will now be given the reins of the entire business.
Deep will serve as executive chairman on the MakeMyTrip board, 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 a filing to the US Securities and Exchange Commission.
“We believe that separating the roles of Group CEO and Executive Chairman will allow us to focus more on long-term strategic opportunities within and outside India, while maintaining our market-leading position in our existing businesses,” Kalra said.
MakeMyTrip is listed on the Nasdaq. Magow will work closely with Kalra in his new role and focus on driving the next phase of growth for the MakeMyTrip Group through its three brands — MakeMyTrip, Goibibo and Redbus.