Shah Rukh opts to exit Jet board; shareholders give nod

Jet Airways on Monday said Bollywood star Shah Rukh Khan has not been re-appointed as a member on its board, after the actor expressed his unwillingness for a new term.

"Shah Rukh Khan, who retired by rotation at the meeting, had expressed his desire not to be re-appointed and he has not been appointed," Jet Airways said in statement to the Bombay Stock Exchange.

The vacancy caused by the star's exit has not yet been filled, Jet said after its annual general meeting (AGM) held today.

Meanwhile, shareholders of the airline have approved the appointment of film producer and director Yash Raj Chopra and Victoriano P Dungca as directors of the company.

Other decisions taken during AGM included increasing the company's borrowing limit to up to Rs 17,500 crore and re-appointment of two chartered accountants-- Deloitte Haskins & Sells and Charturvedi & Shah as joint statutory auditors of the company.