The Board of Directors (Board) of InterGlobe Aviation Limited (IndiGo) has announced the appointment of Mr. Vikram Singh Mehta and Air Chief Marshal B. S. Dhanoa (Retd.) as the Independent Non-Executive Directors, subject to receipt of security clearance from the Ministry of Civil Aviation (MoCA) and approval of the Members of the Company.
Mr. Vikram Singh Mehta will be appointed as an Independent Non-Executive Director in the vacancy caused by the second term of Dr. Anupam Khanna having come to an end on March 26, 2022. The appointment of Mr. Mehta will be effective from the date of receipt of security clearance from the MoCA.
Mr. Vikram Singh Mehta is currently Chairman and Distinguished Fellow of CSEP (Centre for Social and Economic Progress). He was the Executive Chairman of Brookings Institution India Center and Senior Fellow, Brookings Institution from 2012 to 2020. Prior to that, he was the Chairman of the Shell Group of Companies in India (1994-2012); Chief Executive of Shell Markets and Shell Chemicals, Egypt (1992-1993); and Advisor, Strategic Planning to the State-owned Company, Oil India Limited (1984 -1988). He started his career by joining the Indian Administrative Service in 1978 and resigned from the Service in 1980. Mr. Mehta is an Independent Director on the Boards of a number of companies including Larsen and Toubro Limited, Mahindra and Mahindra Limited, Colgate Palmolive India Limited, Apollo Tyres Limited, HT Media Limited and Jubilant FoodWorks Limited. He is also on the Boards of Thomson Reuters Founders Share Company, Overseers of the Fletcher School of Law and Diplomacy, Tufts University, and the Global Advisory Board of Macro Advisory Partners. Mr. Mehta was the recipient of Asia House's "Businessmen Of The Year" award for 2010. He also received Asia Centre for Corporate Governance and Sustainability's Award for "Best Independent Director" in India for 2016.
Air Chief Marshal B. S. Dhanoa (Retd.) will be appointed as an Independent Non-Executive Director in the vacancy which will arise on Mr. Meleveetil Damodaran stepping down as an Independent Director on attaining the age of 75 years on May 3, 2022. The appointment of ACM Dhanoa as an Independent Director will be effective from the date of receipt of security clearance from the MoCA or May 4, 2022, whichever is later.
ACM B. S. Dhanoa (Retd.) is an alumnus of St. George's College, Mussoorie. He then moved to Rashtriya Indian Military College, Dehradun, and later joined the National Defence Academy (NDA) in June 1974. He graduated from the Jawaharlal Nehru University in 1977. Post his flying training, he was commissioned in the Fighter Stream of the Indian Air Force (IAF) in June 1978. In 1985, he carried out the All-Purpose Flying Instructors Course (APFIC) and then attained the highest-Flying Instructor's Category 'A' in 1987. He completed M. Sc. in Defence Studies from Madras University and attended a Defence Services Staff College Course in 1990-91. He has an illustrious career with the IAF and has served at various ranks. He served as the Air Officer Commanding-in-Chief of South-Western Air Command before taking over as the Vice Chief of Air Staff (VCAS) in May 2015. He served as the 25th Chief of the IAF from January 1, 2017, to September 30, 2019, and led the IAF when it executed air strikes over a terror camp in Balakot in Pakistan in February 2019. He has been awarded with the Param Vishisht Seva Medal in 2016, Ati Vishisht Seva Medal in 2015, Yudh Seva Medal 1999 and Vayu Sena Medal in 1999. Amongst various other achievements, the fighter squadron he commanded was the most decorated unit of the IAF during the Kargil conflict, due to his excellent leadership. He is currently an Independent Director on the Board of Hero MotoCorp Limited from October 2020.
Reacting to his proposed appointment, Mr. Vikram Singh Mehta said, "I am delighted and honored to be invited to join the Board of InterGlobe Aviation Limited. I have for long admired the success of its low-cost, courteous, efficient and on-time offering from the outside. I now look forward to seeing it cross new frontiers, from the inside."
Reacting to his proposed appointment, ACM B. S. Dhanoa (Retd.) said, "Delighted to be on the immensely talented Board of IndiGo, the market leader in civil aviation our country with an inherent belief in performance and safety, values I cherished the most during my service in the IAF."
Mr. M. Damodaran, Chairman of the Board of Directors of the Company said "InterGlobe Aviation Limited (IndiGo) is privileged to welcome Mr. Vikram Singh Mehta and Air Chief Marshal (Retd.) B. S. Dhanoa as Independent Directors on its Board. Vikram brings to the table his varied and rich experience in the Boardrooms of several leading companies as well as his admirable clarity of thought and expression. ACM Dhanoa's meticulous attention to detail without ever missing the big picture, and his enviable leadership qualities derived from a phenomenal understanding of men and machines will serve IndiGo very well especially in increasingly competitive times."
Mr. Ronojoy Dutta, Whole Time Director & CEO of IndiGo added, "All of us at IndiGo are absolutely thrilled to have two such distinguished personalities join our Board. Mr. Mehta brings years of experience running major corporations and a wealth of knowledge from working on some of the leading Boards in India. We will gain immensely from Air Chief Marshal Dhanoa's exemplary leadership and crisis management skills. We look forward to the guidance and counsel of these two very special people."
Shares of InterGlobe Aviation Limited was last trading in BSE at Rs. 1897.90 as compared to the previous close of Rs. 1940.40. The total number of shares traded during the day was 24948 in over 2820 trades.
The stock hit an intraday high of Rs. 1947.50 and intraday low of 1890.15. The net turnover during the day was Rs. 47809545.00.