Shares of Interglobe Aviation rebounded, gaining 1% on Monday after falling over 6% on Friday after IndiGo announced today that Aditya Ghosh will step down as President and is likely to be replaced by one of its former executives Gregory Taylor.
It said Rahul Bhatia, a promoter of the company, has been appointed as the interim CEO.
The development comes amid the airline embarking on ambitious expansion plans and its aircraft facing technical issues with engines.
"In the coming months, the Board will consider the appointment of Greg as President and CEO of the company, subject to receiving the necessary