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Air India appoints first foreign CEO

Air India appoints first foreign CEO

Air India has appointed its first foreign chief executive after a previous pick from overseas backed out because of local opposition, new owners Tata Sons said Thursday.

The new boss will be New Zealander Campbell Wilson, the former head of Singapore Airlines' low-cost subsidiary Scoot, Tata Sons said in a statement.


After buying back Air India from the government after 69 years of state ownership, Tata in February selected former Turkish Airlines boss Ilker Ayci to help turn around the loss-making airline.

But a Hindu-nationalist group with close ties to prime minister Narendra Modi's ruling party criticised the choice over Ayci's connections to Turkish president Recep Tayyip Erdogan.

Ayci soon withdrew after "closely following the efforts to give another meaning to my appointment", Turkish media quoted him as saying.

"Air India is at the cusp of an exciting journey to become one of the best airlines in the world," the Tata statement quoted Wilson as saying.

"I am excited to join Air India and Tata colleagues in the mission of realising that ambition," the 50-year-old said.

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Frasers slams Debenhams over £222 million pay scheme

Highlights

  • Debenhams pushes ahead with executive pay scheme worth up to £222 m without shareholder approval.
  • CEO Dan Finley could earn up to £148 m if share price reaches £3 over next five years.
  • Frasers Group, holding 29.7 per cent stake, calls move "utterly disgraceful" amid long-running corporate tussle.
Struggling British online fashion retailer Debenhams has sparked outrage from its biggest investor after deciding to implement a new executive pay scheme worth up to £222 million without seeking shareholder approval.

Frasers Group, which holds a 29.7 percent stake in Debenhams, condemned the move through its chief financial officer Chris Wootton on Thursday. "Typical corporate governance from them, utterly disgraceful," Wootton said, criticising the retailer's decision to bypass investors.

Under the new incentive scheme, Debenhams CEO Dan Finley could earn up to £148 m and CFO Phil Ellis up to £14.8 m if the company's share price hits £3 over the next five years. Debenhams shares were trading at 22.25 pence on Thursday, down 3.3 percent.

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