Robin Kamark, Etihad’s nominee director, has resigned from the board of Jet Airways. Kamark’s resignation makes Jet’s board dysfunctional as it has only two members now. According to section 149 of the Companies Act, a board of a public company must comprise a minimum of three members and now Jet is non-compliant under this rule.
The resignation comes close on the heels of senior management exits at Jet Airways and a week after Etihad Airways submitted a conditional offer to invest in the airline.
Etihad did not comment on Kamark’s resignation. A source said there was no change in Etihad’s position on investing in Jet and Kamark’s exit was more about safeguarding him from any possible action for non-compliance or violations by the airline.
