Public shareholders of IndiGo vote against ESOP grant to CEO
The majority of InterGlobe Aviation Ltd’s public shareholders opposed granting stock options to its chief executive officer (CEO), but a resolution to this effect was passed given the support from the airline’s promoters who hold nearly three-fourths of its voting rights.
About two-thirds of public shareholders voted against granting 185,000 stock options to CEO Ronojoy Dutta, India’s largest airline informed stock exchanges. Voting on the resolution ended on Monday.
Promoter entities of InterGlobe, which operates IndiGo, including co-founder Rahul Bhatia and Rakesh Gangwal, who polled 288 million votes, voted in favour of the resolution. Promoters and promoter groups control 74.85% voting rights and shareholding in the company.
