IndiGo billionaire Gangwal flags truce with airline co-founder

Rakesh Gangwal, the billionaire co-founder of Indigo, will support company proposals at a shareholder meeting next week to expand its board after an agreement on policy changes, months after he accused his fellow co-founder of corporate-governance lapses. The board of IndiGo has approved a new related-party transaction policy, Gangwal said Friday. Gangwal now intends to support a move to expand the company’s board to 10 directors at its annual general meeting scheduled for Aug 27, reversing his earlier stance. “In light of this positive and important development, I will be supporting the proposed changes to the Articles,” Gangwal said. “While much work lies ahead, including mending some fences... it is gratifying to see progress towards better governance.” <br/>