PRS Oberoi quits Jet board, Shivkumar new finance V-P

PRS Oberoi quits Jet board, Shivkumar new finance V-P
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First Published: Mon, Feb 09 2009. 10 49 PM IST

Moving on: Oberoi, who was an independent director on the Jet Airways board, left the airlines citing other commitments. Indranil Bhoumik / Mint
Moving on: Oberoi, who was an independent director on the Jet Airways board, left the airlines citing other commitments. Indranil Bhoumik / Mint
Updated: Mon, Feb 09 2009. 10 49 PM IST
Mumbai: P.R.S. Oberoi, who heads the Oberoi group, has resigned from the board of Jet Airways (India) Ltd effective 30 January, the airline said on Monday. Oberoi, one of the independent directors on the board, is also chairman and chief executive officer of East India Hotels Ltd, the flagship company of the Oberoi group.
The airline said Oberoi has resigned “due to his other commitments”. Other independent directors at Jet include writer Javed Akhtar, technocrat Sam Pitroda, producer Yash Chopra and actor Shah Rukh Khan.
Moving on: Oberoi, who was an independent director on the Jet Airways board, left the airlines citing other commitments. Indranil Bhoumik / Mint
According to Jet’s 2007-08 annual report, Oberoi, Pitroda and Khan did not attend any board meetings. A query for updated data remained unanswered by the airline.
In another development, Jet appointed M. Shivkumar as its senior vice-president for finance, effective 6 February, replacing Raja Parthasarathy who resigned in June 2006, a person close to the matter said on condition of anonymity.
Shivkumar joins Jet from Mumbai International Airport Ltd (Mial). A Mial spokesperson confirmed Shivkumar’s exit. A Jet spokeswoman did not confirm or deny the move.
“Major finance affairs were carried out in Jet Airways through an adviser, A.N. Iyer, though he is not an employee of Jet Airways ,” the person quoted earlier said.
A Jet spokeswoman clarified that Iyer was overseeing finance affairs of Jet till August 2003. “At present, Jet chairman (Naresh Goyal) takes Iyer’s help as and when required,” she added.
Jet’s shares rose 2.81% on the Bombay Stock Exchange to close at Rs171.70 on Monday.
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First Published: Mon, Feb 09 2009. 10 49 PM IST