Express logistics company Gati has appointed Allcargo Chairman and Managing Director Shashi Kiran Shetty its chairman. Allcargo acquired 46.83% in Gati for Rs 416 crore in April.

K. L. Chugh, Gati’s Non-Executive Chairman for 22 years, stepped down from the board on July 24.

In the previous board meeting, Gati’s board had inducted Allcargo’s Joint Managing Director Adarsh Hegde, Chief Investment Officer Jatin Chokshi, Kaiwan Kalyaniwalla, Cynthia D’Souza, Mohinder Pal Bansal and Dinesh Kumar Lal as Independent Directors.