MakeMyTrip Group has elevated Rajesh Magow, co-founder and CEO of its India business, to the role of group CEO, where he’ll oversee its leading brands, MakeMyTrip, Goibibo, and Redbus, the company said on Tuesday.
Co-founder Deep Kalra is rising from group CEO to the newly created role of group executive chairman. Kalra will help oversee product innovation and expansion, geographic growth, business model innovation, and corporate development for India’s largest online travel company.
MakeMyTrip Group announced the leadership moves at the same time as its financial results for the 2020 fiscal third quarter, which closed at the end of 2019.
During a call with investment analysts, the executives cautioned that the group’s growth may moderate. In India’s upcoming fiscal year, the economy is likely to grow at the slowest pace in a decade, they said. That will temper travel sales. Magow and Kalra also cited…