The interim management committee of Air India has retained four directors of the previous board, while a team of Tata Sons’ senior managerial personnel are handholding and “working in tandem” with the carrier’s top brass.
The management team will be in charge for an interim period till a new board is announced.
The four directors who have been retained include Director Finance Vinod Hejmadi; Director-Commercial, Meenakshi Malik; Director-HR, Amrita Sharan; and Director-Operations, Capt RS Sandhu.
Two government nominees and the recently appointed Chairman and Managing Director, Vikram Dev Dutt stepped down, on Thursday. AI’s previous board strength was seven.
“Typically, the four existing directors should have ceased to be functional on the very date of privatisation. However, their status has not been changed till date,” an official aware of the procedures told BusinessLine.
Tatas’ current management team includes Nipun Aggarwal, Senior V-P of Tata Sons, say sources, while other members come from group companies like Tata Steel and TCS. A senior executive from one of the two existing airlines belonging to the group is also a part of the team. Some former executives have also been included.
Tata Sons, whose subsidiary Talace Pvt Ltd now owns Air India, is yet to officially announce the Board. The new board announcement could happen next week or earlier.
Sources say names of independent directors and CEO on the new board are awaiting to be approved.
“A security clearance is required if they bring in an expat-CEO,” an official said requesting anonymity.
While no sudden change is expected in the functioning of the airline, the focus will be on improving customer experience and on-time performance . The Tatas will have to retain all employees for at least an year, as per the bidding conditions. However, small changes like enhancing meal options in flights are being worked out, say sources.