September 7, 2017 TnH Global

Ibibo Group Founder and MakeMyTrip President Ashish Kashyap resigns

Ibibo group CEO and co-founder Ashish Kashyap has resigned from his position as President of MakeMyTrip Ltd. The Gurugram-based online travel company’s Group CEO Deep Kalra has accepted his resignation, which will come into effect from September 30, 2017. The resignation comes just a few months after the completion of the MakeMyTrip-Ibibo merger deal.

Ibibo Group has entered into a separation agreement with Ashish Kashyap. This agreement provides among other things, final settlement of dues and benefits. According to the official statement, Kashyap has agreed to a non-compete and non-solicitation obligation for a period of two years ending on September 30, 2019.

For the neophytes in legal issues, a Non-Solicitation clause restricts individuals and organisations from soliciting (a) employees, (b) customers, or (c) business opportunities from another company or organisation for a period of time. There has been no announcement yet on Kashyap’s successor in MakeMyTrip as well as his plans ahead.

“Ashish Kashyap 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,” said Deep Kalra in an official statement.