IndiGo appoints former SEBI Chairman Meleveetil Damodaran as non-independent non-executive director

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    InterGlobe Aviation, the parent company of IndiGo airline, on Saturday said its board has approved the appointment of former SEBI Chairman M Damodaran as non-independent non-executive director.

    In his previous stint at the airline, Damodaran was an independent director and chairman of board of directors at InterGlobe Aviation from January 24, 2019 to May 3, 2022.

    The Board of Directors of InterGlobe Aviation has approved the appointment of Damodaran as Non-Independent Non-Executive Director, subject to shareholders’ approval, a company statement said.

    M. Damodaran, IAS (Retd.), presently a Governance Consultant, Advisor, Mentor and Coach, has worked with the Union and the State Governments of India, regulatory bodies, investment institutions, banks, development financial institutions and with the private sector. He was Chairman of Securities and Exchange Board of India (SEBI) from February 2005 to February 2008. He has led the highly successful and transformational restructuring efforts in Unit Trust of India (UTI) and Industrial Development Bank of India (IDBI). During his tenure at SEBI, he was elected Chairman of the Emerging Markets Committee (EMC) of the International Organisation of Securities Commission (IOSCO).

    He has chaired high powered committees of the Government of India, Reserve Bank of India (RBI) and some Chambers of Commerce. He has won several awards for governance, leadership and transformation. He presently sits on the Boards of some of India’s biggest companies and on the Advisory Boards of some foreign entities. He was the Founder Chairman of Indian Institute of Management (IIM), Tiruchirappalli. He is widely acknowledged as one of India’s foremost champions of Corporate Governance and is passionate about improving Board performance. Mr. M. Damodaran is a retired IAS officer who graduated with distinction in Economics and in Law from the Universities of Madras and Delhi respectively. He is on the Boards of Biocon Limited, Larsen and Toubro Limited, Bajaj Allianz General Insurance Company Limited and Bajaj Allianz Life Insurance Company Limited.

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