News: Jet Airways whole time Director Gaurang Shetty quits the airline’s board

#Movements

Jet Airways whole time Director Gaurang Shetty quits the airline’s board

Gaurang Shetty, a close aid of Naresh Goyal, had joined Jet Airways in 1996.
Jet Airways whole time Director Gaurang Shetty quits the airline’s board

The exodus at Jet Airways continues with the latest one being top executive Gaurang Shetty. Gaurang, who considered close to founder Naresh Goyal, has resigned from airline’s board of directors, the airline said in a statement on Thursday.

Gaurang held the position of whole-time director in the company’s board at the time of his resignation and had joined Jet Airways in 1996 as General Manager Marketing. He also held other senior positions like Vice-president Marketing, Senior Vice-President Commercial and acting chief executive for a brief period in 2016.

In a letter dated 23 April, Shetty had submitted his resignation, while requesting a waiver from the airline’s board of directors to serve his notice period under terms of his employment. The airline said in a statement to the stock exchange that it had sought independent legal opinion on the matter and accepted his resignation.

The beleaguered airline which stopped its operations on 17 April due to an acute cash crunch, has seen an exodus of top executives and board members in the past few months. Last month, former chief election commissioner, Nasim Zaidi, quit his position as non-executive and non-independent director on the airline’s board citing personal reasons and time constraints. Similarly, another Independent director Rajshree Pathy had quit the board in April, weeks after, founder Naresh Goyal and his wife Anita Goyal quit the airline’s board.

Meanwhile, companies like BridgeLabz, SpiceJet, WeWork have stepped in to hire the readily-available skilled workforce of Jet Airways, providing some temporary relief to the employees. Given that the number of displaced employees runs over 16,000, it still remains a daunting task.

Topics: Movements, Leadership

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