On Tuesday, MakeMyTrip announced the appointment of Vipul Prakash as the new Chief Operating Officer for both the parent brand, MakeMyTrip and for Goibibo.
Prakash had been with PepsiCo for two decades, the last position he served there being the Senior VP, India. Having joined the aerated beverage behemoth in 1988, he served various positions in marketing and franchise both at the sector and the global levels. He is an alumnus of the Indian Institute of Management, Ahmedabad and the Indian Institute of Technology, Delhi. With an educational background spanning over the range of mechanical engineering and management coupled with decades of experience in the industry, Prakash is sure to add on to the workings at India’s largest online travel services provider.
With competitors like Cleartrip and Yatra vying for market share and being part of an industry that is taking the country by storm with multiple online service providers mushrooming, MakeMyTrip does not have the easiest landscape to navigate. That said, last month, the company did report an increase in revenue with a dip in losses for the second quarter in 2018-19. While the revenue from its flight ticket business was up by 31 per cent at $56.5 Mn, revenue from its biggest revenue contributor, hotels and packages, was up by 18 per cent at $85.5 Mn.
Rakesh Magow, Co-founder and India CEO, MakeMyTrip stated that the company would benefit from the experience and expertise in leading operational practices that Prakash would bring into the system especially with his seasoned understanding of the consumer market.
This is not the first case of a seasoned executive from one of the older industry giants leaving to join one of the new, young players in the online services segment. This talent migration is intriguing and speaks probably of an organizational structure stance that most new players want to take – being driven by millennial creativity and backed by tested experience.
Image source : Glassdoor