INDIA & MIDDLE EAST: Deccan 360 hiring CEO, set to expand ops
IndiaÃ¢â‚¬™s Deccan 360 will hire a chief executive officer (CEO) and finalise its new business plan over the next two months as it prepares to expand operations after raising funds through a stake sale last month to Reliance Industries Ltd (RIL), its founder G.R. Gopinath said recently. At least nine candidates have been short-listed for […]
June 1, 2010
At least nine candidates have been short-listed for the post of CEO to replace Jude E. Fonseka who was let go as part of a cost-cutting effort at the company. Ã¢â‚¬Å“We are looking for somebody with Indian experience,Ã¢â‚¬Â Gopinath told Mint. The new CEO will take the freight services firmÃ¢â‚¬™s business plan forward, said the aviation pioneer.
Ã¢â‚¬Å“I wanted somebody who is going to stay for the long term and grow the business and create wealth. We are going to strengthen it and deepen it,Ã¢â‚¬Â he added.
Gopinath is seeking to expand Deccan 360 operations to tap an air cargo business in which growth is expected to accelerate to an annual pace of 11.8 per cent by 2011-12, from 5 per cent in 2008-09, according to figures released by civil aviation minister Praful Patel earlier this month.
Without giving details of the shareholding structure, Gopinath said Reliance had bought anywhere between 26- 49 per cent of Deccan 360, which started commercial operations a year ago with a service from Delhi to Hong Kong.