Top-deck exit continues at Jet; Acting CEO quits

Written By Unknown on Selasa, 25 Maret 2014 | 23.26

Gopalakrishnan was entrusted with the additional charge of Acting CEO after resignation of incumbent Garry Kenneth Toomey in mid-January.

Jet Airways ' Acting CEO and Chief Financial Officer Ravishankar Gopalakrishnan has resigned, sources said today, the latest in the high-profile exit from the private carrier.

Gopalakrishnan was entrusted with the additional charge of Acting CEO after resignation of incumbent Garry Kenneth Toomey in mid-January.

While Gopalakrishnan could not be contacted, Jet media head Ragini Chopra did not respond to the text message sent by PTI for confirmation.

Gopalakrishnan is the third top executive to part ways with the Naresh Goyal-promoted airline, in which Gulf carrier Etihad Airways now holds 24 per cent stake, in the past one year.

Immediately after the airline announced the signing of the deal with Etihad in April last year, the then CEO Nikos Kardassis quit, reportedly in protest against being sidelined through out the protracted negotiations for stake sale that lasted for more than a year.

The Mumbai-headquartered airline then brought in Toomey, an Australian national considered close to Etihad CEO and President James Hogan, at the helm in June. But he too quit the job after being in the hot seat for a little over six months.

Jet Airways stock price

On February 24, 2014, Jet Airways closed at Rs 219.60, up Rs 0.15, or 0.07 percent. The 52-week high of the share was Rs 688.60 and the 52-week low was Rs 210.25.


The latest book value of the company is Rs -27.75 per share. At current value, the price-to-book value of the company was -7.91.


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