SpiceJet on Tuesday announced the re-appointment of R Neelakantan as chief financial officer (CFO) as CFO Sam Issac has quit the budget airline due to differences over operational policy.

Mr. Issac was reportedly opposing the management's decision of launching discount offers and involving external consultants for budget preparation and employee appraisal. He is the second top level executive to quit the airline. A few days back, CTO Virender Pal quit the airline. While the airline is claiming that both executives had expressed their desires to move on, media reports suggest that they were asked to quit.

The airline has also announced the appointment of Shilpa Bhatia as senior vice-president of sales & distribution, which is currently being handled by chief commercial officer V Raja, who will retire at the end of this month.

Anurag Jain has been named as the Senior Vice President of Network Planning & Strategy Development. Commenting on the new appointments, Chief Operating Officer Sanjiv Kapoor said, "I am delighted at the addition of highly talented and experienced professionals with world class credentials to the SpiceJet management team."

The top level reshuffle comes nearly five months after the induction of Sanjiv Kapoor as COO. Mr. Kapoor, who was earlier with Bain & Co, is trying to give the airline a complete image makeover with a series of marketing drives, low-fare promotions and brand building.

SpiceJet shares gained nearly 1 per cent to Rs 13.64 apiece in morning session trade on the Bombay Stock Exchange on Wednesday.