MUMBAI: IndiGo plans to expand its board to 10-12 members including a woman member from the current number of six, said a person in the know.
This was among the key decisions in a seven hour board meeting held Saturday. In an announcement, India’s biggest airline by market share said it will seek shareholders’ approval to appoint a woman director. It didnt elaborate on the overall board expansion.
The meeting spilled over from yesterday when the board considered and announced the airline’s record earnings—a 42 times year-on-year jump in its net profit to Rs 1,203 crore.
The board members discussion a plethora of contentious issues, including those of related party transactions raised by co-founder Rakesh Gangwal in a recent letter to capital markets regulator Sebi. It wasnt immediately clear if any decision was made.
Source: Economic Times