IndiGo Appoints Former SEBI Chairman Meleveetil Damodaran as Non-Executive Non-Independent Director

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

During his previous stint with the airline, Damodaran served as Independent Director and Chairman of the Board of InterGlobe Aviation from January 24, 2019 to May 3, 2022.

InterGlobe Aviation’s board of directors has approved Damodaran’s appointment as a non-independent non-executive director, subject to shareholder approval, a company statement said.

Mr. Damodaran, IAS (Retired), currently a Governance Consultant, Advisor, Mentor and Coach, has worked with Union and Indian State Governments, Regulators, Investment Institutions, Banks, Financial Institutions development and with the private sector. He was Chairman of the Securities and Exchange Board of India (SEBI) from February 2005 to February 2008. He led the highly successful and transformational restructuring efforts of Unit Trust of India (UTI) and the Industrial Development Bank of India (IDBI). During his tenure at SEBI, he was elected Chairman of the Emerging Markets Committee (EMC) of the International Organization of Securities Commissions (IOSCO).

He has chaired high-level committees of the Indian government, the Reserve Bank of India (RBI) and some chambers of commerce. He has won several awards for governance, leadership and transformation. He currently sits on the boards of some of India’s largest companies and on the advisory boards of some foreign entities. He was the founding president of the Indian Institute of Management (IIM), Tiruchirappalli. He is widely recognized as one of India’s foremost corporate governance champions and is passionate about improving board performance. Mr. M. Damodaran is a retired IAS officer who graduated with honors in economics and law from the universities of Madras and Delhi respectively. He sits 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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