IndiGo has approached five prominent personalities Indra Nooyi, Isher Judge Ahluwalia, Vinita Bali, Neelam Dhawan and Naina Lal Kidwai to join as the airline’s first independent woman director.
IndiGo has approached former PepsiCo chief Indra Nooyi, Indian Council for Research on International Economic Relations chairperson Isher Judge Ahluwalia, ex-MD of Britannia Vinita Bali, former HP India head Neelam Dhawan and ex-HSBC India head Naina Lal Kidwai, as per ET reports.
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“The airline board will decide on the candidate very soon,” said a person familiar with the development.
The appointment of an independent woman member on the airline’s board is part of an agreement reached after co-promoter Rakesh Gangwal complained to the market regulator that IndiGo was not following corporate governance rules.
“We would like to fill this position with a person of high integrity,” the person said, adding that the individuals shortlisted individuals reflect the airline’s endeavour to have independent and professional members on the board.
To address the concerns raised by co-promoter Gangwal, IndiGo is expanding the composition of its board to 10 from 6.
The board will include four independent directors including a woman, five nominees of co-founder Rahul Bhatia’s InterGlobe Enterprises, including the CEO, and one from the Gangwal Group.
After Gangwal had red-flagged the issue of related-party transactions between IndiGo and Bhatia’s IGE, the airline has decided to change the practice.
Indigo is now going to follow a competitive bidding process for all such transactions over a certain value, a person aware of the matter said.
External consultants will be hired to deal with technical issues and transactions.
By: Abhinav Ranjan, Editorial Desk, DKODING Media
