Naresh Goyal’s son Nivaan Goyal, who is currently the Head of Business at Jet Airways, might not be made the next Excecutive Director of Jet Airways, claim sources.
It was recently reported that Naresh Goyal had decided to step down from his position as Chairman and board member.
According to reports, Nivaan has been with the company for the past decade and was set to become the Executive Director.
A source in the know, however, said: “Goyal has been trying really hard to get his son a board seat and make him the Executive Director of the airline. However, he might just end up being a board member with several restrictions as the current board, lessors, banks, and especially Etihad, are not willing to let him have any powers.”
Goyal is likely to step down once the the majority shareholding has been transferred as per the resolution plan, the source added.
Another company source confirmed that Nivaan might not be the ED as “he is too young to handle this responsibility”.
The stock price of Jet Airways on Friday jumped by 5.32 per cent after reports claimed that Goyal has stepped down.
Late in the evening, in a BSE notice, the airline said: “Along with the restructuring of the company, (Jet) also contemplates appropriate governance structure including board composition.”