News > IndiGo Co-Founder Rakesh Gangwal Resigns From Board, To Cut Down Stake

IndiGo Co-Founder Rakesh Gangwal Resigns From Board, To Cut Down Stake

IndiGo co-founder Rakesh Gangwal has resigned from the board and is planning to cut his stake in the airline over the next five years. Gangwal and his family own a 36.61% stake in the parent company, while another co-founder and managing director Rahul Bhatia and his family own about 37.8%.

The two had engaged in a spat in early 2020 when Gangwal sought to modify certain rules in the company’s articles of association.