Memorandum of Agreement trusts the decision entirely on members of the board
Indian Institute of Management-Ahmedabad (IIM-A) will soon
be the first amongst the elite management institutions in the country that can pick
its own director and also have financial independence. Director of the
Institute Samir Barua said the Gujarat government has cleared the Memorandum of
Agreement (MOA) in totality and the proposals await response from the Union Ministry
of Human Resource Development (MHRD).
Directors of the premier institutions are being shortlisted search-cum-selection
committee set up Centre in coordination with the IIM’s board of governors, giving
the government major influence in the selection. The Memorandum of Agreement trusts
the decision entirely on members of the board. Barua said that this would completely
eliminate the government’s role in short listing of candidates for the director’s
“From now on, the board will shortlist three candidates, while the government can
pick one from those names,” he said.
The amendments will also al low the IIM to purchase and sell assets without seeking
the government’s approval. MoA conditions
Selection of the director and the chairman, setting up of campuses in foreign countries,
hiring foreign faculties and selling off institute’s asset are some of the main
aspects of the MOA, the Director said.
The MOA also proposes to reduce the number of members on the board from 25 to 12.
“As per the MOA the number of representatives outside the institute will be two.
The modalities of this is however to be decided yet,’’ said Barua.
Courtesy: Deccan Heralde Paper