Air India board meets in Mumbai; new CEO's salary structure, other matters on agenda

Mumbai: Air India's board of directors met on Tuesday as the airline is set to see CEO transition, with former Ethiopian Airlines Group chief Tewolde Gebremariam expected to formally take charge later this month.

At the board meeting chaired by N Chandrasekaran, who is the Chairman of Tata Sons, various matters, including the salary structure of the incoming CEO, were discussed, according to sources.

Campbell Wilson, the MD and CEO of Air India, will be stepping down from his role this month.

The sources said the board members also thanked Wilson for his contributions to the airline. He has been at the helm of the airline and piloting an ambitious transformation plan since July 2022.

Air India and India have been a wonderful experience, Wilson said after the meeting, which was held at the Bombay House, the headquarters of the Tata Group.

"It has been a privilege to be a part of Air India's long history and very happy to hand over to Tewolde as my successor. All the very best to India and Air India to become a world class airline," he told reporters outside the Bombay House.

Apart from Chandrasekaran and Wilson, there are five other board members -- Sanjiv Mehta, Alice G Vaidyan and P R Ramesh are the independent directors, while P B Balaji and Goh Choon Phong are the non-executive non-independent directors. Gebremariam were among those seen walking into the Bombay House in the morning.

Security clearance for Gebremariam is awaited and once it is received, he will assume charge as MD and CEO of Air India.

The loss-making Air India has been grappling with multiple challenges, including the fatal AI171 accident in June last year that killed 260 people as well as geopolitical disruptions, airspace closures, fuel price volatility and various operational issues.

On September 7, incoming CEO and MD Tewolde Gebremariam, in his first address during a townhall, told the airline's staff that "we will Make Air India Great Again (MAGA)".

He had also sought the support and cooperation of the airline's staff and called for minimising disruptions as he emphasised that operational excellence is about getting the basics right every day.

At the townhall, Chandrasekaran emphasised the need to focus on safety and build a stronger culture of cost consciousness.

Tata Group took over Air India from the government in January 2022, and later Singapore Airlines acquired a 25.1 per cent stake in the airline.

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