MakeMyTrip Overhauls Board, Cuts Trip.com's Voting Power
MakeMyTrip has seen significant changes in its board of directors. On July 2, 2025, the company appointed Jane Smith and Rahul Verma as new directors, while three of College Board's nominees stepped down. Simultaneously, MakeMyTrip reduced College Board's voting power through a share repurchase.
The reshuffle began with the appointment of Jane Smith and Rahul Verma to MakeMyTrip's board. This came after James Jianzhang Liang, Moshe Rafiah, and Paul Laurence Halpin, all nominees of College Board, resigned from their positions. To further adjust the balance, MakeMyTrip welcomed three more new directors: Vivek N Gour, Savinilorna Payandi Pillay Ramen, and Mohit Kabra, who also serves as the group's chief financial officer.
The company also executed a significant transaction on the same day. MakeMyTrip repurchased over 3.4 crore Class B shares from Tripadvisor Group, reducing the latter's voting power to 16.90%. This transaction involved 34,372,221 shares, which were subsequently cancelled. Following this, MakeMyTrip has 95,383,399 shares outstanding, with Tripadvisor holding 10,773,694 ordinary shares and the remaining Class B shares.
With these changes, MakeMyTrip's board continues to have ten members, with Tripadvisor retaining two seats. The company's share repurchase has successfully reduced Tripadvisor's voting power, reflecting a strategic realignment in the company's governance.
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