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IndiGo announces the appointment of Dr. Venkataramani Sumantran as an Independent Director

Posted On: 2020-05-29 22:59:37


The Board of Directors of InterGlobe Aviation Limited (IndiGo) has appointed Dr. Venkataramani Sumantran as an Independent Director for a period of 5 years.

Dr. Sumantran, with a rich experience of over 35 years having worked in the USA, Europe and Asia, has been an industry leader, technocrat, academic and author. He is currently Chairman and Managing Director of Celeris Technologies and has held this position since 2014. He is a strategic advisory engaged in multiple domains including automotive, mobility, digital transformation, aerospace, and technology. He serves on several statutory boards and advisory boards in India, Europe and USA. He is also an Adjunct Professor at MISI-Massachusetts Institute of Technology.

Until 2014, he served as Executive Vice-Chairman of Hinduja Automotive, UK, the auto and manufacturing sector holding company of the Hinduja Group as well as Vice Chairman of Ashok Leyland Ltd. He led the group's expansion strategy including sectors such as Light Commercial Vehicles, Construction Equipment, IT, and Emission Technologies. Previously (2001-2005), he held the position of Executive Director of Tata Motors Ltd. and Chief Executive of the Car business during its formative years, working closely with Mr. Ratan Tata. Dr. Sumantran also dedicated 16 years of his career to working with General Motors, starting at the R&D Centre in Detroit and subsequently as Director, Advanced Engineering in GM-Europe.

Reacting to his appointment, Dr. Sumantran said, "I feel privileged to join the Board of Directors of InterGlobe Aviation Limited. In a relatively short time, IndiGo has not only established itself as a market leader, but has also set new benchmarks in professionalism, efficiency, and customer satisfaction. I look forward to working with the Board of Directors as they propel the organisation towards a more successful flight path."

Mr. M. Damodaran, Chairman of the Board of Directors of the Company said, "I am delighted to welcome Dr Sumantran as an independent director on the Board of Directors of InterGlobe Aviation Limited. His intellectual prowess, his analytical bent of mind, his objectivity, his wide-ranging experience and his deep understanding of the aviation sector, will considerably strengthen the Board."

Shares of InterGlobe Aviation Ltd was last trading in BSE at Rs.965.55 as compared to the previous close of Rs. 977.65. The total number of shares traded during the day was 80702 in over 4248 trades.

The stock hit an intraday high of Rs. 978.15 and intraday low of 944.1. The net turnover during the day was Rs. 77874547.


Source: Equity Bulls

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