SpiceJet rejigs top deck, Neelakantan returns as CFO

Written By Unknown on Rabu, 05 Maret 2014 | 10.56

Neelakantan served as SpiceJet's chief financial officer from November 2010 to February 2013, and is returning to this role after serving as the Head of Internal Audit for the Sun Group (of which SpiceJet is a part) in the interim period.

Moneycontrol Bureau

Low-cost airline SpiceJet  announced a major top-management reshuffle on Tuesday.

The troubled airline, which triggered a fare war in the Indian skies over the past few months, has re-appointed R Neelakantan as CFO.

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Neelakantan served as SpiceJet's chief financial officer from November 2010 to February 2013, and is returning to this role after serving as the Head of Internal Audit for the Sun Group (of which SpiceJet is a part) in the interim period.

The move follows after the current CFO Sam Issac quit the airline, apparently over differences on operational policy, said media reports.

In February, SpiceJet named Kaneswaran Avili as its Chief Commercial Officer (CCO).

SpiceJet has also appointed Shilpa Bhatia as Senior VP of Sales and Distribution. Bhatia, who joined the airline from the Sahara Group two weeks ago, will be replacing V Raja, who is due to retire by month-end.

The airline further announced the appointment of Sudhakar Kondisetty as Senior VP of Information Technology. Kondisetty replaces Virendar Pal, who had also earlier expressed his desire to pursue other opportunities.

Also, Fares Azeem Kilpady, from Air Asia X, will be joining the airline as VP and Head of Revenue Management from from April 1. Anurag Jain will now take on the role of Senior VP, Network Planning and Strategy Development.

"I am delighted at the addition of highly talented and experienced professionals with world class credentials to the SpiceJet management team," said Chief Operating Officer Sanjiv Kapoor.

SpiceJet stock price

On March 05, 2014, at 09:25 hrs SpiceJet was quoting at Rs 13.44, up Rs 0.65, or 5.08 percent. The 52-week high of the share was Rs 43.75 and the 52-week low was Rs 12.50.


The latest book value of the company is Rs -3.50 per share. At current value, the price-to-book value of the company was -3.84.


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