Air India forms search committee to find new COO
Air India has constituted a search committee to select a chief operating officer (COO), more than a year after the last incumbent resigned.india Updated: Jun 14, 2012 15:32 IST
Air India has constituted a search committee to select a chief operating officer (COO), more than a year after the last incumbent resigned.
About 35 candidates have been shortlisted for the job. The members will scrutinise the credentials of the candidates. No time-line has been fixed, but the process is expected to pick up speed soon, sources in the company told IANS.
The management had received around 70 applications for the post after it advertised to fill the vacancy in October last year. But all 70 applicants were rejected on technical grounds or for lacking the necessary qualifications.
That's why the airline advertised again in May this year.
The advertisement said the COO would be part of the top management team and responsible for Air India operations. He should be in a position to execute the turnaround and financial restructuring plans that aim to make the company profitable by 2018.
"Incumbent should be a commercial pilot and should have qualified on any type of aircraft in the current fleet of Air India. He will be on contract for a period of two years extendable by one year based on performance," said the advertisement.
Expatriates, however, will not be considered for the job, said one official who is privy to the development. The rationale behind this was that an Indian will be in a better position to understand Air India's situation.
"The company is very diverse from inside. It does very diverse operations and has to do all that within a set framework of a public sector undertaking (PSU). That's why a candidate from either within Air India or a local will be best suited," the official said.
In 2010, the company had hired an Austrian, Captain Gustav Baldauf, with an annual package of Rs 3 crore amidst much hue and cry by some sections of the employees.
This time around the airline has placed the fixed component of the package at 60 percent, which will be in the range of Rs 40-60 lakh per annum. The rest 40% of the salary will include perks and performance-linked-pay.
Baldauf resigned in early 2011 after he was served a showcause notice over his remarks to the media about the government's interference in the company.