Cleartrip CFO Aditya Agarwal Quits, Citing Personal Reasons

Cleartrip’s CFO Aditya Agarwal Quits; Akshat Mishra To Lead Business Finance

SUMMARY

Agarwal assumed the role of CFO at Cleartrip in 2020, and during his tenure of more than three and half years, he orchestrated the company’s merger and subsequent integration into the Flipkart Group

Meanwhile, Akshat Mishra will take over as the new head of Business Finance, Cleartrip said

The development comes just months after Cleartrip forayed into the corporate travel space with the launch of Out of Office (OOO)

Flipkart-owned online travel aggregator Cleartrip has announced that Aditya Agarwal will be stepping down from his role as chief financial officer (CFO) owing to personal reasons.

Akshat Mishra will take over as the new head of Business Finance.

Agarwal’s departure comes after nine years of his service at Cleartrip, wherein he was instrumental in shaping its’ financial strategy and organisational growth, the company said in a statement.

He assumed the role of CFO at Cleartrip in 2020, and during his tenure of more than three and half years, he orchestrated the company’s merger and subsequent integration into the Flipkart Group, it added.

An alumnus of IIM-Ahmedabad, Agarwal also served as Head of Corporate Strategy and M&A at Cleartrip.

Before joining Cleartrip, Agarwal held roles in companies such as Goldman Sachs, Standard Chartered Bank and Texas Pacific Group.

Meanwhile, Mishra comes with a wealth of experience, two years in the Cleartrip Business Finance team and eight years within the Flipkart Group.

“The transition reflects Cleartrip’s commitment to nurturing internal talent and ensuring continuity in its financial leadership. Agarwal will remain with Cleartrip for a few months to facilitate a smooth transition. The company remains focused on driving innovation, and growth while delivering superior customer experience,” the company said.

Founded by Hrush Bhatt and Matthew Spacie in 2006, Cleartrip is one of the oldest travel booking portals in India, which allows users to book flight and train tickets and make hotel reservations.

In April 2021, Walmart-backed Flipkart acquired a 100% stake in Cleartrip for $40 Mn.

Cleartrip competes against the likes of Ixigo, EaseMyTrip and Ibibo.

Earlier, it was also reported that Singapore-based traveltech platform Wego inked a deal with Flipkart to acquire Cleartrip’s Middle East business.

In February, Cleartrip forayed into the corporate travel space with the launch of Out of Office (OOO), a booking tool tailored for small, medium and large enterprises.

Cleartrip reported a net loss of INR 676.5 Cr in the fiscal year ended March 2023 (FY23), a 90% year-on-year increase as compared to INR 356.5 Cr in FY22.