New Delhi: Each change of guard in the no-frill carrier SpiceJet – Neil Mills was the fourth CEO since its launch in 2005 – has largely coincided with a new investor taking control of the born-again airline.
The erstwhile ModiLuft – which was grounded in mid-1990s - was resurrected in 2004 as SpiceJet by a clutch of investors led by NRI businessman Bhupender Kansagra, and Ajay Singh.
They brought in a low-cost airline veteran, Mark Winders, as its CEO, to kick-start the operations. Winders however left - a year into the job – in 2005, citing “home sickness”.
Siddhanta Sharma, who was associated with the project for several years, took charge as CEO, and later executive chairman.
Sharma quit in July 2008 even as talks were on with potential external investors to pump in money into the business. He subsequently joined InterGlobe Enterprises, the parent company of rival no-frill carrier IndiGo.
The same month US-based distress investor Wilbur Ross bought out the Kansagras and some other investors pumping in Rs 345 crore into the airline. Ross brought in Sanjay Aggarwal as CEO in October 2008.
However a change in management in July 2010 – with Sun TV’s Kalanithi Maran taking control – precipitated Aggarwal’s exit. Maran roped in Neil Mills in 2010, who earlier worked with low-cost carriers FlyDubai and EasyJet.
Read news in full 24/07/13 Sudipto Dey/Business Standard
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