Hindustan Aeronautics Ltd has reconstituted its board with 14 directors, three fewer than before.
Chairman T.Suvarna Raju is now re-designated Chairman and Managing Director, the state-owned defence company said on Wednesday.
Full-time directorsThe new structure has five full-time directors including the CMD, two government nominees and seven independent directors. (Hitherto there were nine full-time directors, two part-time official and six part-time independent directors.)
Mr. Raju said, “The re-constitution is done [keeping in view] the growth of the company in the next two decades. This will also ensure extensive delegation and strengthen our management system.”
The change was one of the recommendations of the B.K. Chaturvedi committee that went into the reorganisation of the defence public enterprise, which is also slated for 10 per cent disinvestment and trading on the bourses.
The position of Director Engineering and R&D, until now held by Mr. Raju, is to be filled up soon. Currently V.M. Chamola is Director (HR); A.K. Mishra is Director (Finance); S. Subrahmanyan of MiG Complex is Director (Operations).
MD post discontinuedThe post of managing director has been discontinued. The four MDs are re-designated as chief executive officers below the board level. They are V. Sadagopan for Helicopter Complex, R. Kaveri Renganathan for the Bangalore Complex; Daljeet Singh for MiG Complex, Nashik, and Rajiv Kumar for the Accessories Complex.
