Jet CFO Amit Agarwal entrusted with additional charge of CEO

Recently-appointed Jet Airways Chief Financial Officer Amit Agarwal has been entrusted with the additional charge of Chief Executive Officer in place of Gaurang Shetty, the airline today said.
Shetty, who is senior vice president for commercial at Jet Airways, was given the acting charge of the post after the then CEO Cramer Ball quit the carrier in December last year.
"Jet Airways Chief Financial Officer Amit Agarwal is taking on responsibility as the Acting Chief Executive Officer of the company with effect from March 01, 2016," Jet Airways said in a regulatory filing today.
Agarwal, who was appointed as the CFO on December 22 last year, will function as the acting CEO in addition to his responsibilities as CFO till such time a new Chief Executive Officer is appointed, it said.

This is the fifth CEO level change in Jet Airways since April 2013 when the airline offloaded a part of stake to Abu Dhabi's national airline Etihad.
Jet Airways has seen a number of its senior executive departing from the carrier in the last almost three years with two top executives besides Ball having quit last year alone.

Before Ball announced his departure from the carrier, in September 2015, its vice president for fleet management Krishnan Balakrishnan had left the carrier to join budget airline GoAir as its chief financial officer.
Earlier in August, its then Chief Commercial Officer Raj Sivakumar also moved out of the Mumbai-headquartered airline.

Nikos Kardassis was the first CEO to part ways with Naresh Goyal after he signed the Rs 2,069 crore stake sale deal with Etihad in April 2013 on the ground that he was kept out of the negotiations.
Following Kardasis resignation, Jet Airways brought in Gary Kenneth Toomey as its new CEO in October, who too stepped out after serving the airline only for nearly six months despite a three-year job contract.
At this stage, the then CFO Gopalakrishnan was made acting CEO, who also quit the airline in March last year.