Softbank backed Oyo elevates Ankit Gupta to CEO, India

Due to the delay in transition to IPO, Softbank-backed Oyo has announced elevation Ankit Gupta to be the Chief Executive Officer of India.

In what may be called a major rejig, Oyo has decided to make such a big change considering future possibilities. WIth this, the existing CEO, Rohit Kapoor, has now been promoted as the company’s global marketing head.

Ankit Gupta is already a known face as far as Oyo is concerned and till now, he was heading the main business of Oyo in India – Hotels and Homes but now,, its role will be stretching to Workspaces as well.

Kapoor was designated as the CEO of Oyo India & Southeast Asia but now he will extend his presence globally. As far as the Southeast Asia region is concerned, Ankit Tandon will be heading, who previously was the company’s global chief business officer.

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The main focus in the Southeast Asia region will be on Indonesia and the Middle Eastern region as the company is looking to expand in that particular sphere.

Rohit, however, will be focusing on how to work on lifting the brand persona of Oyo in India and also target a certain customer base including the likes of family and leisure travelers and corporate executives.

It is a crucial time for the company as it is looking to make a transition to IP but the process has been delayed for a long time. The transition came with a huge figure of  $1.2-billion initial public offer (IPO). Ahead of making any final decision, the officials in all the three positions will directly report to the Founder and Group CEO, Ritesh Agarwal.