Friday, September 04, 2015

SpiceJet seeks shareholders' nod for Ajay Singh's appointment as MD

New Delhi: SpiceJet has sought shareholders' approval for the appointment of Ajay Singh as managing director, a position he assumed in May this year, without any remuneration for three years.
Singh, who came to the rescue of the no-frills carrier, was appointed as managing director by the board with effect from 21 May for a three-year period.
"Singh is not drawing any remuneration for the executive functions performed by him. However, he will be eligible for expenses for his office and other incidental expenses incurred by him while discharging his duties as Managing Director," according to the postal ballot notice sent to shareholders.
As per the notice, dated 28 August and submitted to the BSE today, Singh holds 354,443,450 equity shares in SpiceJet.
While he would not taking any remuneration, he would be eligible for expenses for his office and other incidental expenses incurred while discharging his duties as managing director.
04/09/15 First Post
To Read the News in full at Source, Click the Headline