Oyo Hotels and Homes is shifting Aditya Ghosh, its chief executive for India and South Asia, to the board, ‘before a possible public listing, barely a year after he joined India’s second-most valuable internet firm. The transition in management comes as the SoftBank-backed company intensifies its focus on turning profitable before a public listing.
Ghosh, a former president of budget airline IndiGo, was appointed on 1 December 2018. He will be replaced by Rohit Kapoor, the head of New Real Estate Businesses, Oyo said on Monday.
The move appears intriguing as Ghosh, who attained corporate acclaim during his tenure with IndiGo, was courted by several other large startups before he joined Oyo. But Ghosh said that he decided to join the board so that he would have a bigger canvas than South Asia. Gurugram-based Oyo has been expanding to international markets such as China, US and UK over the past two years.
“Now that I have been in Oyo for a year, and the south Asia business has doubled in size, Ritesh and I have been discussing on how I could contribute on a global basis. The strategy is that we not only build a fast-growing company but also one which is well respected in terms of governance, brand recognition and also a financially sustainable business that’s profitable,” Ghosh said in a telephonic interview.