MUMBAI: Times Internet Limited (TIL) has named Satyan Gajwani as the new CEO of the company. Gajwani will replace Rishi Khiani, who has decided to move on after serving for three years at TIL.

According to a letter signed by Times Group MD Vineet Jain, Khiani has decided to pursue opportunities outside of the company and hence wished to step down from his current role.

Gajwani, who was director (new media) at The Times of India Group, will report to Jain.

Gajwani said, "We‘re sad to see Rishi move on, but excited for his future ahead. Indiatimes has made great progress under his leadership, and I‘m excited to take it forward to new and bigger heights. These are big shoes to fill but with such a strong team in place, I‘m sure we‘ll succeed."

Jain said, "Under Rishi‘s leadership, TIL has grown its user base by 150 per cent to 28 million visitors, has seen significant growth in revenues and launched strategic properties such as gaana.com and the new Indiatimes.com. We thank Rishi for his contributions to the growth and success of TIL and wish him all the success in his entrepreneurial endeavors."

Khiani will stay at TIL till 17 August, to transition in the new CEO.

Prior to Times Group, Gajwani has also worked with Lehman Brothers as consumer equities trader and Stanford Student Enterprises as director Stanford Store.