Within a month of Chennai-based media baron Kalanithi Maran acquiring a 37.7 per cent stake in SpiceJet, the airline’s Chief Executive Officer Sanjay Aggarwal on Thursday resigned from his post, giving a free hand to the new stakeholder to revamp the management.
Confirming the resignation of Mr. Aggarwal, airline sources said Kishore Gupta, a member of the SpiceJet board, is likely to take over the position for the time being as part of an interim arrangement.
“Mr. Aggarwal has put in his papers with immediate effect,” sources said, adding that Mr. Gupta could be asked to takeover for the time being. Mr. Gupta has been a member of the board since 2000.
Mr. Aggarwal was appointed SpiceJet’s CEO in October, 2008. His appointment had coincided with the no-frill carrier receiving Rs 3.45 billion equity from U.S. investor Wilbur Ross, who recently offloaded his stake to Mr. Maran. Prior to joining as CEO, Mr. Aggarwal was SpiceJet’s Chief Operating Officer and Chief Strategy Officer.