Jet Airways CEO Vinay Dube resigns with immediate effect

Jet Airways's deputy CFO Amit Agarwal had resigned on Monday

vinay-dube Vinay Dube | File

Jet Airways CEO Vinay Dube has resigned with immediate effect "due to personal reasons", a regulatory filing said on Tuesday. Dube's resignation comes hours after news surfaced that Jet Airways's deputy chief executive and chief financial officer (CFO) Amit Agarwal stepped down from his post. 

"We wish to inform you that Mr. Vinay Dube, Chief Executive Officer of the Company, vide his letter dated 14 May 2019, has resigned from the services of the company with immediate effect due to personal reasons," Jet Airways said in a communication to stock exchanges. Agarwal's resignation was effect from Monday.

Dube joined as the CEO of Jet Airways in August 2017. Prior to Jet Airways, he had served in varied roles at Delta Airlines, Sabre Airline Solutions and American Airlines. Dube completed his undergraduate degree from Knox College and graduate degree from the University of North Carolina at Chapel Hill.

Most of the airline's board members have also quit in the last one month. The airline ceased operations temporarily around mid-April due to acute liquidity crisis.

Uncertainty over potential bidders continue at the crisis-ridden Jet Airways. Shares of Jet Airways Tuesday plunged over 7 per cent, its second day of decline, after the company's deputy chief executive officer and chief financial officer (CFO) Amit Agarwal resigned.

The scrip tanked 7.42 per cent to close at Rs 129.10 on the BSE. During the day, it plunged 12.44 per cent to Rs 122.10.

On the NSE, shares plummeted 7.33 per cent to close at Rs 128.90.

In terms of volume, 22.14 lakh shares were traded on the BSE during the day, while over one crore shares were traded on the NSE.

(With PTI inputs)