Gurgaon, January 24, 2019: The Board of Directors of InterGlobe Aviation Limited (IndiGo) today announced the appointment of Mr. M. Damodaran as an Independent Non-Executive Director and the Chairman of the Board. IndiGo also fondly remembers the services of late Mr. M.D. Mallya, who was the first Chairman and Independent Non-Executive Director since the airline was listed on the Indian stock exchanges.
Mr. M. Damodaran has held a number of important positions in the Central and State Governments and in India’s financial sector, including Chairman, Securities Exchange Board of India (SEBI), Chairman, Unit Trust of India (UTI), Chairman, Industrial Development Bank of India (IDBI), and Chief Secretary, Government of Tripura.
After successful tenures at UTI and IDBI, where he led the turnaround efforts, and at SEBI where he introduced improved corporate governance practices, he set up Excellence Enablers Private Limited (EEPL), a Corporate Governance and Board Advisory consultancy firm. His pioneering role in promoting Corporate Governance in India invests EEPL with an experience- based leadership role in corporate governance advisory work. In addition, he is presently a consultant, advisor, coach and mentor and serves on the Boards of some leading companies as well as on the Advisory Boards of some foreign entities. He is Practice Professor of Eminence at International Management Institute (IMI), Delhi. He is the founder Chairman of the Indian Institute of Management Tiruchirappalli and the Chairman and one of the promoters of Glocal Healthcare Systems Private Limited, a unique approach for providing quality healthcare in rural areas. While at SEBI, he was elected Chairman of the 80 member Emerging Markets Committee of the International Organsation of Securities Commissions.
Reacting to his appointment, Mr. M. Damodaran said, "I am delighted to join the Board of InterGlobe Aviation Limited ('IndiGo'), the airline which has redefined the aviation sector in India. I look forward to working with my colleagues on the Board as well as the management of the company to enhance the interests of all stakeholders".
The Board of Directors of IndiGo also approved the appointment of Mr. Ronojoy Dutta as Chief Executive Officer. Mr. Rahul Bhatia, Co-founder and Interim CEO of IndiGo said, “We are very pleased that Rono is joining the IndiGo team. His enormous and varied experience and understanding of the complexities of the airline industry will be invaluable as IndiGo embarks on its next phase of growth".
Mr. Dutta has extensive experience in the aviation industry. He was President of United Airlines, where he worked for nearly twenty years, holding a broad spectrum of senior leadership positions including Senior VP Planning, Senior VP Maintenance, VP Finance and VP Information Technology. He was an advisor to the restructuring of both Air Canada and US Airways, and was engaged in long-term consulting contracts with Hawaiian Airlines and Air Canada. Mr. Dutta also has experience in the aviation industry in India, having served as the President of Air Sahara for two years.
Mr. Dutta has served on the Boards of United Airlines, US Airways and Marsico Trust Funds. He has a degree in Bachelor of Technology from Indian Institute of Technology, Kharagpur, and a degree in Master of Business Administration from Harvard Business School.
On his appointment, Mr. Dutta said, “IndiGo has had phenomenal success in establishing itself as a world class airline, and I am so very happy to be given this opportunity to be a part of it. IndiGo is blessed to be operating in one of the highest growth economies of the world, and this opens up future opportunities for rapid growth. Most importantly, IndiGo has an enthusiastic, energetic workforce who are an absolute delight to work with. I look forward to working with the employees to ensure that IndiGo’s future is even brighter than its past”.