SpiceJet CFO resigns less than 2 years after appointment

Struggling carrier SpiceJet on Tuesday said its chief financial officer (CFO) Ashish Kumar has resigned from the company, less than two years of his appointment.

The airline also announced the appointment of Joyakesh Podder as the new head of finance, designated as deputy CFO of the company from July 15.
Kumar was appointed as the CFO in September 2022.

"SpiceJet announces the appointment of Joyakesh Podder as the new Head of Finance designated as Dy Chief Financial Officer of the Company, effective from 15 July 2024. The company also announces the resignation of Ashish Kumar, who served as the Head of Finance and Chief Financial Officer," SpiceJet said in the statement.

Podder was offered this role in April this year and has joined the SpiceJet team to lead the finance department and support the company's strategic financial initiatives, the company said.

This will be his second stint at the Gurugram-based airline.

A seasoned chartered accountant with over three decades of experience brings a wealth of knowledge and expertise to his new role, the airline said.

Podder has held various positions with companies such as Go First, Mahindra, and Reliance as well as global consultancy firm PwC, among others, with significant contributions in the aviation, hospitality, and telecom sectors, SpiceJet said.

On Monday, SpiceJet reported a multi-fold jump in standalone profit after tax at Rs 118 crore in the March quarter of FY24.

However, for the December quarter of the same year, the airline posted a loss of Rs 301.45 crore against a profit of Rs 106.82 crore in the year-ago period.

For the full 2023-24 fiscal year, the airline posted a loss of Rs 409.43 crore.