SpiceJet's CEO Sanjiv Kapoor today put in his papers, nearly ten months after original promoter Ajay Singh took over the reins of the budget airline.
SpiceJet’s Chief Operating Officer (COO) Sanjiv Kapoor today put in his papers, nearly 10 months after original promoter Ajay Singh took over the reins of the budget airline.
Sanjiv Kapoor, 48, was appointed to the post by then owner Kalanithi Maran in November 2013. His abrupt resignation comes over a year before the expiry of his employment contract, SpiceJet sources said.
Sanjiv Kapoor is believed to have been sidelined after the new management took over earlier this year following the Marans offloading their entire holding to Singh.
An avid user of micro blogging site Twitter, Kapoor has been a visible face of the no-frills airline and a strong supporter of flash sales of discounted tickets.
In his comment, Sanjiv Kapoor said, “After overcoming significant challenges and under the new ownership, SpiceJet has not only returned to profitability, it has been a fundamental catalyst behind the world leading market growth in India. Thanks to Spicejet, competition has been kept alive in the Indian airline industry. I wish the entire Spicejet family continued success, a success story I can always look back at with pride”.
In his reaction Ajay Singh, CMD said, “We thank Sanjiv for leading Spicejet at a very difficult time. He has been, and will remain, a strong and passionate supporter of the airline. We wish Sanjiv all success in his future endeavours”.
The carrier has seen many senior-level exits since the change in ownership. Those who parted ways with the airline include its Chief Commercial Officer Kaneswaran Avili and IT head Sudhakar Kondisetty.
A co-founder of Spicejet, Singh, who exited the airline in 2010, took back its control after acquiring the entire 58.46 per cent stake of Kalanithi Maran and Kal Airways Pvt. Ltd in February as part of a revival plan. Spicejet also does not have a chief executive officer (CEO) ever since July 2013 when the then CEO Neil Mills quit the airline.