Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Fri, 18 Feb 2022 05:43 PM IST
Summary
Indigo Cofounder Rakesh Gangwal Quits: Taking a big decision on Friday, Rakesh Gangwal, co-founder and non-executive director of airline company Indigo, surprised everyone. In fact, Gangwal has resigned from the company board with immediate effect.
Taking a big decision on Friday, Rakesh Gangwal, co-founder and non-executive director of airline company IndiGo, surprised everyone. In fact, Gangwal has resigned from the company board with immediate effect. Not only this, according to a report, now they will also reduce their stake in the airline.
That’s why Gangwal resigned
It is worth noting that Gangwal has taken this decision at a time when Indian airlines are facing difficult challenges. Gangwal was the co-founder of InterGlobe Aviation, a company owned by IndiGo Airlines. In a report released in this regard, it has been said that he has resigned from the board due to the ongoing dispute with the second co-founder of the company, Rahul Bhatia.
will gradually reduce the share
In a letter to the IndiGo board, Gangwal said he intends to gradually reduce his stake in InterGlobe over the next five-plus years. Aviation stalwart Gangwal holds 14.65 per cent in InterGlobe and his wife Shobha Gangwal holds 8.39 per cent. Rakesh Gangwal was quoted in the report as saying that at a time when new investors should benefit from a possible increase in the company’s share price, a gradual reduction in my stake may give me some benefit.
Expansion
Taking a big decision on Friday, Rakesh Gangwal, co-founder and non-executive director of airline company IndiGo, surprised everyone. In fact, Gangwal has resigned from the company board with immediate effect. Not only this, according to a report, now they will also reduce their stake in the airline.
That’s why Gangwal resigned
It is worth noting that Gangwal has taken this decision at a time when Indian airlines are facing difficult challenges. Gangwal was the co-founder of InterGlobe Aviation, a company owned by IndiGo Airlines. In a report released in this regard, it has been said that he has resigned from the board due to the ongoing dispute with the second co-founder of the company, Rahul Bhatia.
will gradually reduce the share
In a letter to the IndiGo board, Gangwal said he intends to gradually reduce his stake in InterGlobe over the next five-plus years. Aviation stalwart Gangwal holds 14.65 per cent in InterGlobe and his wife Shobha Gangwal holds 8.39 per cent. Rakesh Gangwal was quoted in the report as saying that at a time when new investors should benefit from a possible increase in the company’s share price, a gradual reduction in my stake may give me some benefit.