There has been no full-time CEO at the airline since Cramer Ball quit in February 2016.
The appointment of Dube as the CEO was approved by the airline's board during its meeting today, according to a regulatory filing.
The airline said the appointment is subject to "receipt of all requisite government/ regulatory approvals, including his security clearance being obtained".
"Dube is an accomplished aviation leader with over 27 years of US and international business experience," the filing said.
He has been serving at a senior position at Delta Airlines.
The board has also approved re-appointment of Shetty as the whole-time director.
Jet Airways operates flights to 65 destinations and the group currently has a fleet of 113 aircraft.
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