The government approved the appointment of four new non-official, part-time directors on the board of National Aviation Company of India Ltd ‘s (Nacil) board for three years.
The new directors are Mahindra & Mahindra Vice-Chairman and Managing Director Anand Mahindra, Ficci Secretary General Amit Mitra, former air force chief Fali H Major and Ambuja Realty Group Chairman Harsh Neotia. These names had been proposed by the Ministry of Civil Aviation. The earlier non-official, part-time director on the Nacil board, banker N Vaghul, had resigned recently.
Appointment of "eminent" non officials as non executive Directors on the Board of any public sector undertaking has zero value as their suggestions need not be taken seriously by either the Government appointed CEO or the "controlling" Ministry! Their appointment is mere window dressing to enable the Government to claim that the Board is being "professionalized"!!!!! Unfortunately both the Government and the powerful trade unions both detest privatization of these dinosaurs as it will weaken their hold, reduce money making opportunities and demand accountability for results.
Will these non executive Directors be able demand quantifiable results and to pass strictures on non performing Government appointees on the Air India Board?
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