IndiGo co-founder Rakesh Gangwal resigns from board, plans to cut stake

IndiGo co-founder Rakesh Gangwal resigned from the corporate’s board and plans to pare his stake over 5 years, in keeping with a press release by the airline on Friday.

Earlier this month, Rahul Bhatia, the billionaire co-founder of IndiGo, took on a newly-created government place of managing director on the firm. 

Gangwal had accused Bhatia of company governance lapses. The founders have been embroiled in a bitter public dispute over a 2015 shareholder settlement that Gangwal mentioned gave Bhatia management over IndiGo regardless of the same measurement of their stakes.