HAL Board Set to be Recast by April 1

Published: 29th January 2015 05:59 AM  |   Last Updated: 29th January 2015 05:59 AM   |  A+A-

BENGALURU: Public sector aviation company  Hindustan Aeronautics Limited (HAL) will have its restructuring plans in place by April 1, 2015.

The outgoing CMD of the company R K Tyagi said that HAL has carried out other active changes in the policies of the company as well.

Under the new structure of the board, the company will have 5 whole-time directors (including CMD), 2 government appointed directors and 7 independent directors as against the earlier arrangement of  9 whole-time director, 6 independent directors and 2 government appointed directors. The new structure would include one woman director as well.

Stating that the company has got all approvals from competent authorities, Ashok Tandon, company secretary, said that it will be in place by April 1, 2015. He also said that the issue of sharing confidential information  with the book running manager is still to be sorted out. HAL said that they were all ready for the listing process to carry out proposed 10% divestment.

 Tyagi said that the company will be ‘desirable’ for shareholders as it has abilities to match the order books of global aviation giants like Boeing or BAE.

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