While the decisions taken by the IndiGo board over the weekend are expected to have addressed some of the concerns raised by Gangwal, it won’t give him more say in the running of India’s largest airline. The board of IndiGo has also reached out to former PepsiCo Inc. CEO Indra Nooyi to be an independent director, the person said. Increasing the number of independent directors on the board of directors is a huge progress," said the second person who also did not want to be named. Bloomberg had reported on 16 July citing Gangwal that he has no desire to sell or raise his stake in IndiGo. Gangwal has a nearly 37% stake in InterGlobe Aviation, while the Bhatia group has more than 38%.

Source: Mint July 24, 2019 17:37 UTC