Online bus ticketing company redBus has appointed Prakash Sangam as their new chief executive, as its founders make way for the new management.
redBus, which was acquired by the Ibibo group last year, is now seeing the founders Phanindra Sama, the co-founder & CEO Charan Kumar Raju, exit the company.
Prakash Sangam, the new CEO was earlier the Vice President at Info Edge. He was the man behind Shiksha.com.
ibiboGroup also appointed Rohan Patnaik, formerly of Unilever as the Head of Supply and Operations. Anoop Menon, who joined redBus last year will now take charge of engineering function at redBus.
redBus : Bumpy Road Ahead?
As for the new CEO, there will be many challenges to face. For one, online bus ticketing is facing regulatory hurdles. In Karnataka, the state run Transport Corporation stopped selling their inventory through redBus (the partnership was announced a year ago). They are not going to work with other online ticket sellers either, a senior official told NextBigWhat.
In Andhra Pradesh, after a spate of accidents involving private buses, the government has made it nearly impossible for private players to run without permits. This has shrunk the bus industry by a fifth in the state.