Aditya Ghosh joins OYO board of di­rec­tors

Business Standard - - FRONT PAGE - NEHA ALAWADHI & ARINDAM MAJUMDER

Hospi­tal­ity firm OYO on Mon­day said it had el­e­vated Aditya Ghosh, chief ex­ec­u­tive of­fi­cer (In­dia and South Asia) for the ho­tels and homes busi­ness, as a mem­ber of its board of di­rec­tors. Ro­hit Kapoor, has been ap­pointed CEO (In­dia and South Asia) for OYO Ho­tels & Homes, it added.

Just a lit­tle over a year af­ter be­ing named chief ex­ec­u­tive of­fi­cer (CEO), Oyo Ho­tels & Homes’ top boss Aditya Ghosh will move to a board po­si­tion at the firm, hand­ing over the reins to Ro­hit Kapoor, the CEO of Oyo’s new real es­tate busi­ness.

The move comes at a time when Oyo has started talk­ing of its ini­tial pub­lic of­fer­ing plans and has just been val­ued at over $10 bil­lion. In a let­ter to em­ploy­ees ear­lier on Mon­day, Ghosh out­lined a broad strat­egy he will fol­low in his new role.

Ghosh, who joined Oyo from Indigo Air­lines where he was pres­i­dent, said in an in­ter­nal email he would take over his new role at Oyo “from Jan­uary 1... In my new role at the board, I will pro­vide over­sight as Oyo evolves into a truly global high per­form­ing com­pany that scales sus­tain­ably on the path to prof­itabil­ity with higher ex­pec­ta­tions from con­sumers, as­set own­ers, in­vestors, and em­ploy­ees. I in­tend to ac­tively fo­cus on five key ar­eas, namely safety and se­cu­rity, cus­tomer ex­pe­ri­ence, cor­po­rate gov­er­nance, rev­enue man­age­ment, and stake­holder com­mu­ni­ca­tions”.

As a board mem­ber, he is join­ing Oyo founder and group chief ex­ec­u­tive Ritesh Agar­wal, Betsy Atkins, founder and CEO of Baja Cor­po­ra­tion; Mu­n­ish Varma, man­ag­ing part­ner, Softbank Vi­sion Fund; Be­jul So­maia, part­ner at Light­speed In­dia Part­ners Ad­vi­sors; Mo­hit Bhat­na­gar, man­ag­ing di­rec­tor, Se­quoia Cap­i­tal In­dia Ad­vi­sors.

Ghosh said he was look­ing for­ward to cre­ate a truly global brand from In­dia. “I am, there­fore, ex­cited and keen to play a larger role and har­ness my ex­pe­ri­ence in help­ing a pub­lic com­pany op­er­ate well and as­cribe to high stan­dards of sus­tain­able growth,” he added.

Kapoor, who joined as CEO of New Real Es­tate Busi­nesses about a year ago, has been over­see­ing the growth of Oyo Life — the com­pany’s long-term rental hous­ing port­fo­lio and other new real es­tate busi­nesses in In­dia. In his new role, Kapoor will look at op­er­a­tions of over 18,000 ho­tels across over 500 cities in In­dia.

“Given the im­pres­sive per­for­mance of the ho­tels’ busi­ness in In­dia and South Asia, I do have some big shoes to fill. I will do my best and Aditya (Ghosh) has promised to be my guid­ing light in the process,” Kapoor said in a state­ment.

Oyo has re­cently un­der­gone large-scale cor­po­rate re­struc­tur­ing, set­ting up sev­eral sub­sidiaries and bi­fur­cat­ing op­er­a­tions glob­ally.

Founder Agar­wal has moved from ex­ec­u­tive di­rec­tor to a nonex­ec­u­tive di­rec­tor in Oyo’s In­dia oper­a­tion to al­low him to take up a more ac­tive role in the global op­er­a­tions of Oravel Stays Sin­ga­pore. “It is our ul­ti­mate hold­ing en­tity for all our global op­er­a­tions. My deeper en­gage­ment in the global busi­ness is a nat­u­ral pro­gres­sion, given our con­tin­ued growth over the last cou­ple of years and the op­por­tu­ni­ties in the US, Europe, China, and South­east Asia,” he had re­cently told Busi­ness Stan­dard.

ADITYA GHOSH CEO (In­dia & South Asia) “I in­tend to ac­tively fo­cus on five key ar­eas, namely safety and se­cu­rity, cus­tomer ex­pe­ri­ence, cor­po­rate gov­er­nance, rev­enue man­age­ment, and stake­holder com­mu­ni­ca­tions”

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