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Indigo appoints Rohit Philip as new Chief Financial Officer

News Agencies | Updated on: 18 May 2016, 12:46 IST

IndiGo's parent InterGlobe Aviation, announced the appointment of Rohit Philip as its Chief Financial Officer, on 18 May.

Philip, who will replace Pankaj Madan, will move to the no-frills carrier from global document management and business services major Xerox Corporation.

InterGlobe's board approved Philip's appointment during its meeting on Tuesday.

Philip's appointment as the Chief Financial Officer and Key Managerial Personnel of the company will be effective from "July 18, 2016 for a period of five years", the company said in a filing to the BSE.

At Xerox, Philip was Corporate Vice President and Treasurer.

His appointment comes at a time when IndiGo, which was listed on the stock exchange last year, is implementing ambitious expansion plans amid growing competition.

IndiGo is the country's largest carrier by market share.

Philip had worked at United Airlines for 17 years, where he was Senior Vice President, Corporate Strategy and Business Development. He has also held various other positions including that of Vice President (Financial Planning and Analysis) and Assistant Treasurer (Corporate Finance) in the airlines.

He graduated in Mathematics from St Xaviers College, University of Mumbai and has an MBA from Cornell University.

Hit by higher expenses, InterGlobe Aviation saw its net profit remain flat at Rs 579.31 crore in the three months to March.

Notwithstanding the nearly 15 % fall in fuel costs to Rs 1,023.61, IndiGo saw its total expenses in the March quarter jump nearly 12 % to Rs 3,409.86 crore.

First published: 18 May 2016, 12:46 IST