Ibibo co-founder and MakeMyTrip president Ashish Kashyap resigns

Online travel and hospitality service provider MakeMyTrip's president Ashish Kashyap has resigned from the company.

In a filing submitted to the US Securities and Exchange Commission, the company said Kashyap’s resignation had been accepted, and will come into effect from September 30th. It also said Kashyap, as part of an agreement signed with, both, MakeMyTrip Ltd and Ibibo Group, had agreed to a non-compete and non-solicitation obligations for a period of one year.

Kashyap, who was associated with Ibibo Group for 10 years, said “the merger (of Ibibo Group) with MakeMyTrip this year is one of my proudest moments, and I look forward to seeing their continued success”, adding that he will now spend more time “creating new opportunities.” MakeMyTrip acquired Ibibo Group’s travel business in India in October 2016.

Deep Kalra, group chairman and group chief executive of MakeMyTrip said that Kashyap made “immense contribution” in bringing the MakeMyTrip-ibibo deal to fruition and setting a strong foundation for the combined group’s success.

The company hasn't named Kashyap's successor.