Sabre Exec Joining Board of India’s Yatra in Win for Activist Investor Maguire
Photo Credit: Indian online travel agency has appointed Roshan Mendis, Sabre’s chief commercial officer, to its board as an independent director. Unsplash / Artur Tumasjan
Skift Take
Sabre’s chief commercial officer Roshan Mendis has become an independent director, which seems enough to settle a dispute that could have derailed Yatra's plan to go public.
It's been six months since Maguire Investment Trust published an open letter calling for an operational overhaul at Yatra, India's largest corporate travel agency. Now it's had at least one of its key demands met.
Yatra this week said it had appointed Roshan Mendis, Sabre’s chief commercial officer, to its board as an independent director. Sabre is also in the process of investing in American Express Global Business Travel, as it prepares to go public by merging with a blank-check company backed by asset manager Apollo.
Yatra also entered into a cooperation agreement with Maguire, which owns 7.4 percent of the company, where the Australian investment firm will "abide by certain customary standstill and voting provisions for a period of 18 months from the date of signing of the agreem
