They are James Hogan (chief executive), James Rigney (chief financial officer) and Harsh Mohan (vice-president, internal audit and risk management).
Jet Airways would have four directors on the board; there would be seven independent directors as well.
The composition of the board is in contrast to that of AirAsia.
Sources say the joint venture company is likely to have at least six members on its board -- two nominees each from AirAsia and Tata Sons and one representative from Telstra Tradeplace.
Jet Airways’ promoter Tailwinds Limited is said to be looking at an exemption from the Securities and Exchange Board of India for divesting equity shares of the company to comply with the 25 per cent public shareholding norm.
In an application to the Foreign Investment Promotion Board, Etihad Airways said, “Tailwinds Limited, an existing promoter of the company (Jet Airways), will seek an exemption from Sebi for divesting equity shares of the company in the manner approved by Sebi to comply with the minimum 25 per cent public floating requirement prior to the proposed preferential allotment of equity shares to the investor (Etihad Airways).”
If Sebi doesn’t grant an exemption, Tailwinds would sell five per cent stake through an offer for sale, enabling the airline to issue preferential shares to Etihad.
The remaining promoter shareholding would be transferred
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