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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Investors have backed the founder’s move to ease out the airline’s CEO and take charge in the interim. But they should be worried about the airline’s dependence on him.
By all indications, Pieter Elbers’ exit from IndiGo was abrupt. The airline hadn’t given the stock exchanges any intimation of a board meeting, as is required under local regulations. Yet, on 10 March, IndiGo’s board of directors assembled at 5.30 pm. On the agenda was Elbers’ resignation as the airline’s chief executive officer. It was cleared in a jiffy and the board meeting concluded within 15 minutes. There were no signs of any heated discussions or questions on the CEO of the country’s largest airline suddenly wanting to move on.
At 6.03 pm, the announcement was made on the Bombay …
As the low-cost carrier pushes through a compensation overhaul, the absence of a CEO is complicating a delicate moment.
The two new chief executives at Air India and IndiGo come with contrasting reputations but face the same challenge—do their predecessors one better.
A regulatory easing could see the billionaire’s conglomerate move from running airports to owning an airline—an idea he is warming up to, with multiple options open.
