Business

Aditya Ghosh Quits IndiGo, Shares Slip After 10 years at the helm, Ghosh resigned as the president and whole-time director of IndiGo

@otuslive

ADITYA GHOSH has resigned as the president and whole-time director of IndiGo, the company said in a stock exchange filing on Friday.

The board of IndiGo “accepted the resignation of Mr. Aditya Ghosh, President of the company effective July 31, 2018 and as a Director of the company with effect April 26, 2018”, the filing said.

The board has appointed Rahul Bhatia, the Chairman of IndiGo’s parent InterGlobe Aviation, as the interim CEO and Gregory Tailor as a senior advisor.

“In the coming months, the Board will consider the appointment of Greg as President and CEO of the Company, subject to receiving the necessary regulatory approvals and paperwork,” an IndiGo press statement said.

Ghosh, 42, is an alumnus of Delhi University’s Law Faculty and had joined IndiGo in 2008. “For the last ten years, it has been a relentless, exhilarating and a most satisfying task building IndiGo. It is now time for me to step off the treadmill and sometime in the near future embark on my next adventure,” Ghosh said in the company statement.

IndiGo, India’s largest airline, had a market share of nearly 40% as of March but has been troubled by incidents of staff misbehaviour and engine issues in its Airbus A320neo planes.

The company’s shares shed over 6% ahead of the news of Ghosh’s exit and closed at 1406.80 on Friday.

#Indigo: WHAT THEY SAID

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