Interglobe Aviation, the parent company of private airline IndiGo, announced on July 16 that its board has appointed Meleveetil Damodaran as Non-Independent Non- Executive Director, subject to shareholder approval.
Meleveetil Damodaran IAS (Retd.) was the Chairman of Securities and Exchange Board of India (SEBI) from February 2005 to February 2008. He has led the restructuring efforts in Unit Trust of India (UTI) and Industrial Development Bank of India (IDBI), according to an exchange filing.
Presently a governance consultant, advisor, mentor and coach, has worked with the Union and the State Governments of India, regulatory bodies, investment institutions, banks, development financial institutions and with the private sector, according to an exchange filing.
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During his tenure at SEBI, Damodaran was elected Chairman of the Emerging Markets Committee (EMC) of the International Organisation of Securities Commission (IOSCO). He has chaired high-powered committees of the Government of India and Reserve Bank of India (RBI), among others. He has won several awards for governance, leadership and transformation, according to the filing.
He presently sits on the boards of some of India's biggest companies and on the advisory boards of some foreign entities. He was also the Founder Chairman of Indian Institute of Management (IIM), Tiruchirappalli. Damodaran is widely acknowledged as one of India's foremost champions of Corporate Governance and is passionate about improving Board performance.
He graduated with distinction in Economics and in Law from the Universities of Madras and Delhi respectively. Previously, he was an independent Director and Chairman of IndiGo from January 24, 2019 to May 3, 2022.
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