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Bloomberg
IndiGo co-founder Rakesh Gangwal resigned from the company’s board and plans to pare his stake over five years, according to a statement by the airline.
Earlier this month, Rahul Bhatia, the billionaire co-founder of IndiGo, took on a newly-created executive position of managing director at the company.
Gangwal had accused Bhatia of corporate governance lapses. The founders were embroiled in a bitter public dispute over a 2015 shareholder agreement that Gangwal said gave Bhatia control over IndiGo despite the similar size of their stakes.