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IndiGo to seek shareholder approval for induction of woman director

Former Pepsico CEO Indra Nooyi, former HP India head Neelam Dhawan said to have been approached

Arindam Majumder  |  New Delhi 

According to media reports, serious differences have cropped up between the two chief promoters over strategies and ambitions for the airline

InterGlobe Aviation, which runs the country’s largest airline IndiGo, on Saturday said it would seek shareholder approval for induction of an independent woman director.

A company statement, after its board meeting stretching to two days, said shareholders’ nod would be sought at an annual general meeting for expanding the board of directors to enable this. The prolonged meeting, on Friday and Saturday, was held in the midst of a dispute between the two promoters of the airline.

People in the know said that Indra Nooyi, former CEO of Pepsico, and Neelam Dhawan, former head of HP India, have been approached by the company for this.

Having a woman independent director on board was one of the several demands made by IndiGo’s co-founder Rakesh Gangwal in his letter to capital markets regulator Sebi earlier this month, raising concerns related to corporate governance lapses in the firm.

CEO Ronojoy Dutta told analysts on Friday that the company was in the process of replying to Sebi on Gangwal’s grievances and that comments on the issue would be offered to the ministry of corporate affairs by the end of next week.

First Published: Sun, July 21 2019. 01:01 IST