Monday, July 31, 2017

BIAL reconstitutes board, to fast-track airport expansion

Bengaluru: Bangalore International Airport Ltd (BIAL), which reconstituted its board after Fairfax India Holdings Corporation acquired a 48 per cent stake in the company, has vowed to fast-track airport expansion project.

BIAL had on Thursday announced the induction of new members to its board of directors. They include Marcel Hungerbuehler (former CEO of BIAL from November 2008 to February 2011) and Hari Marar.

Harsha Raghavan will take over as Managing Director, while Marar will be Executive Director and President.

Reconstitution of the BIAL board follows the acquisition of GVK’s residual, 10 per cent, stake in BIAL by FIH Mauritius Investments, a wholly-owned subsidiary of Fairfax India Holdings Corporation. The board, under the stewardship of the Chairman Subhash Chandra Khuntia, the Karnataka Chief Secretary, will work towards speedy implementation of crucial capacity-expansion projects.
30/07/17 Business Line