BENGALURU: Oyo Hotels & Homes has elevated India and South Asia CEO Aditya Ghosh to the board of the company, giving him a global role to focus on corporate governance, revenue management, safety and security, customer experience and stakeholder communication. As part of his new role, Ghosh will directly report to the board of SoftBank-backed Oyo, which has aggressively expanded across the world making big investments in China, the USA, and Europe in the last two years.
Rohit Kapoor, who was heading the new real estate business at Oyo, will take over as India and South Asia CEO from Ghosh. Both Kapoor, former executive director at Max Healthcare and Ghosh, former president at India’s largest airline Indigo, joined Oyo late last year. Ghosh will be the “eyes and ears” of the board, according to one source briefed on the matter, which also includes founder Ritesh Agarwal, who recently increased his shareholding in Oyo from 10% to close to 30% by taking a $2 billion loan to buy shares from existing shareholders besides infusing fresh capital.
Oyo had added Goldman Sachs vice chairman Mark Schwartz and Betsy Atkins, an early investor in eBay and Yahoo to the board earlier this year. Oyo’s board also includes investor representatives like Lightspeed’s Bejul Somaia, Sequoia’s Mohit Bhatnagar and Softbank Vision Fund’s Munish Varma but no other management executive, besides founder Agarwal and now Ghosh.
“Aditya will provide strength of governance and leadership 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,” said a statement from Oyo.BENGALURU: Oyo Hotels & Homes has elevated India and South Asia CEO Aditya Ghosh to the board of the company, giving him a global role to focus on corporate governance, revenue management, safety and security, customer experience and stakeholder communication. As part of his new role, Ghosh will directly report to the board of SoftBank-backed Oyo, which has aggressively expanded across the world making big investments in China, the USA, and Europe in the last two years.
Rohit Kapoor, who was heading the new real estate business at Oyo, will take over as India and South Asia CEO from Ghosh. Both Kapoor, former executive director at Max Healthcare and Ghosh, former president at India’s largest airline Indigo, joined Oyo late last year. Ghosh will be the “eyes and ears” of the board, according to one source briefed on the matter, which also includes founder Ritesh Agarwal, who recently increased his shareholding in Oyo from 10% to close to 30% by taking a $2 billion loan to buy shares from existing shareholders besides infusing fresh capital.
Oyo had added Goldman Sachs vice chairman Mark Schwartz and Betsy Atkins, an early investor in eBay and Yahoo to the board earlier this year. Oyo’s board also includes investor representatives like Lightspeed’s Bejul Somaia, Sequoia’s Mohit Bhatnagar and Softbank Vision Fund’s Munish Varma but no other management executive, besides founder Agarwal and now Ghosh.
“Aditya will provide strength of governance and leadership 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,” said a statement from Oyo. […]
