IndiGo to seek shareholders' nod for Rahul Bhatia's appointment as MD
Premium- Rahul Bhatia will not draw any remuneration from IndiGo during his tenure as the Managing Director
India's largest airline IndiGo will seek shareholders nod for the appointment of co-founder and promoter Rahul Bhatia as the company's managing director.
On 4 February, the board of directors unanimously approved the appointment of Bhatia as the managing director with immediate effect.
Bhatia had then said his agenda would be transformational and would focus on expanding the airline’s presence in India and in international markets and building for the long term.
IndiGo Chairman Meleveetil Damodaran said the move will further strengthen the airline in the years ahead. Bhatia would oversee all aspects of the airline, and actively lead the management team, he added.
The Gurugram-headquartered company will also shareholders approval for availing advisory services from its non-executive director Gregg Albert Saretsky.
The remote e-voting process for the shareholders will be open from February 17 till March 18, according to a regulatory filing on Wednesday. The results of the postal ballot will be declared on or before March 20.
Bhatia will not draw any remuneration from the company during his tenure as the Managing Director. However, he will receive benefits, amenities and perquisites to which he is entitled as per the rules of the company as applicable from time to time, it added.
"Rahul Bhatia shall not draw any remuneration from the Company during his tenure as the Managing Director of the Company, other than the benefits, amenities and perquisites to which he is entitled as per the rules of the Company as applicable from time to time," the postal ballot notice read.
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Another proposal is for availing advisory services from Saretsky in the capacity as "Special Advisor and payment of remuneration to him up to USD 70,000 per month for the said services from February 5, 2022 till March 31, 2023."
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