The Board of Directors of InterGlobe Aviation Limited (IndiGo)
today announced the appointment of Mr. M. Damodaran as an Independent
Non-Executive Director and the Chairman of the Board. IndiGo also fondly
remembers the services of late Mr. M.D. Mallya, who was the first Chairman and
Independent Non-Executive Director since the airline was listed on the Indian
stock exchanges.
Mr. M.
Damodaran has held a number of important positions in the Central and State
Governments and in India’s financial sector, including Chairman, Securities
Exchange Board of India (SEBI), Chairman, Unit Trust of India (UTI), Chairman,
Industrial Development Bank of India (IDBI), and Chief Secretary, Government of
Tripura.
After
successful tenures at UTI and IDBI, where he led the turnaround efforts, and at
SEBI where he introduced improved corporate governance practices, he set up
Excellence Enablers Private Limited (EEPL), a Corporate Governance and Board
Advisory consultancy firm. His pioneering role in promoting Corporate Governance
in India invests EEPL with an experience-based leadership role in corporate
governance advisory work. In addition, he is presently a consultant, advisor,
coach and mentor and serves on the Boards of some leading companies as well as
on the Advisory Boards of some foreign entities. He is Practice Professor of
Eminence at International Management Institute (IMI), Delhi. He is the founder
Chairman of the Indian Institute of Management Tiruchirappalli and the Chairman
and one of the promoters of Local Healthcare Systems Private Limited, a unique
approach for providing quality healthcare in rural areas. While at SEBI, he was
elected Chairman of the 80 member Emerging Markets Committee of the
International Organsation of Securities Commissions.
Reacting to
his appointment, Mr. M. Damodaran said, "I am delighted to join the Board
of InterGlobe Aviation Limited ('IndiGo'), the airline which has redefined the
aviation sector in India. I look forward to working with my colleagues on the
Board as well as the management of the company to enhance the interests of all
stakeholders".
The Board of
Directors of IndiGo also approved the appointment of Mr. Ronojoy Dutta as Chief
Executive Officer. Mr. Rahul Bhatia, Co-founder and Interim CEO of IndiGo said,
“We are very pleased that Rono is joining the IndiGo team. His enormous and
varied experience and understanding of the complexities of the airline industry
will be invaluable as IndiGo embarks on its next phase of growth".
Mr. Dutta has
extensive experience in the aviation industry. He was President of United
Airlines, where he worked for nearly twenty years, holding a broad spectrum of
senior leadership positions including Senior VP Planning, Senior VP
Maintenance, VP Finance and VP Information Technology. He was an advisor to the
restructuring of both Air Canada and US Airways, and was engaged in long-term
consulting contracts with Hawaiian Airlines and Air Canada. Mr. Dutta also has
experience in the aviation industry in India, having served as the President of
Air Sahara for two years.
Mr. Dutta has
served on the Boards of United Airlines, US Airways and Marsico Trust Funds. He
has a degree in Bachelor of Technology from Indian Institute of Technology,
Kharagpur, and a degree in Master of Business Administration from Harvard
Business School.
On his
appointment, Mr. Dutta said, “IndiGo has had phenomenal success in establishing
itself as a world class airline, and I am so very happy to be given this
opportunity to be a part of it. IndiGo is blessed to be operating in one of the
highest growth economies of the world, and this opens up future opportunities
for rapid growth. Most importantly, IndiGo has an enthusiastic, energetic
workforce who are an absolute delight to work with. I look forward to working
with the employees to ensure that IndiGo’s future is even brighter than its
past”.
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