Logistics

SpiceJet COO Sanjiv Kapoor quits

Ashwini Phadnis New Delhi | Updated on January 23, 2018

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His abrupt resignation comes over a year before the expiry of his employment contract, sources said.

Sanjiv Kapoor, Chief Operating Officer, SpiceJet, has resigned.

While both the airline and Kapoor declined to speak on the issue, sources indicated that an announcement about his resignation is expected to be sent to the stock exchanges in a day or two.

Being a listed company, SpiceJet will have to inform the stock market of any change in its top management.

Earlier this week, Kapoor, 48, had attended a panel discussion in Dubai on low-cost airlines in West Asia and North Africa.

However, Kapoor had been sidelined since January this year when Ajay Singh acquired the airline from the Marans. Singh signed an agreement with Kalanithi Maran on January 15 for the transfer of the 58.46 per cent stake held by the Marans to him.

Over the last few months, even though he was the COO of the airline, Kapoor had been reduced to looking after passenger complaints and ensuring that flights departed on time rather than being involved in its day-to-day running.

Earlier, it was said that Kapoor could not be asked to leave the company as his contract entailed a hefty financial compensation, in case he was asked to leave before his contract ended in the next few years.

However, with Kapoor having resigned, this clause will become null and void, sources indicated.

Kapoor was appointed COO of SpiceJet by then owner Kalanithi Maran in November 2013. Originally from Kolkata, Kapoor started working with Northwest Airlines in 1996 in several roles spanning corporate finance, business planning, procurement and operations.

SpiceJet also does not have a chief executive officer since July 2013 when the then CEO, Neil Mills, quit the airline.

Published on October 29, 2015

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