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.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp