The new Indian Institutes of Management (IIMs) will have alumni from older IIMs as their board members once they become autonomous.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Having an alumni as a board member is a clause in the IIM autonomy bill. As per the bill, the Board of Governors of IIMs, which will consist 19 members will chose the board members. Among the board members, "up to five persons will be co-opted by the Board from the alumni or the members of society of the existing institute who have distinguished themselves in the field of management".

Since the newer IIMs do not have a strong alumni base, they will get alumni members of the older IIMs to be a part of their board, this was decided in the meeting of Chairpersons of all IIMs with the officials in Human Resource Development Ministry on Wednesday.

After the autonomy bill came into regulation, all IIMs have been asked to form their own regulations by the end of this month and a meeting in this regard was held at the ministry on Wednesday.

"All IIMs agreed to co-operate and come up with their rules by the end of this month. Most of them did not raise any major concerns except for the new IIMs that mentioned the point about not having a good alumni base for inclusion as their board members since they have begun operations a few years ago. It was decided that they will chose their board members from the older institutes," said a senior official privy to developments.