Rajat Gupta, the former McKinsey head accused of passing insider tips to Galleon Group’s billionaire hedge fund manager Raj Rajaratnam, has resigned from three corporate boards, including Stamford auto-home stereo-video maker Harman International Industries, The Times of India reports.
In a filing to US market regulator Securities and Exchange Commission, AMR Corp, the parent company of American Airlines, also said that 62-year old Gupta “voluntarily resigned” from the boards of AMR and its subsidiary, American Airlines, effective immediately, the newspaper said in its online edition.
The ex-director of Goldman Sachs also resigned from the board of outsourcing company Genpact Ltd, according to a separate regulatory filing.
Gupta notified Genpact of his resignation as non-executive chairman of the board of directors and as a member of the board of directors, the filing said.
The company received his formal resignation letter today. Prior to his resignation, Gupta had also served as a member of the board’s nominating and governance committee.
Last week, the alumnus of the Indian Institute of Technology, Harvard Business School and MIT resigned as a director of Procter & Gamble.
The SEC had last week accused Gupta of insider trading, alleging that he passed information to Rajaratnam on companies including Goldman Sachs and Procter & Gamble.
The Indian-American is also accused of sharing information with Rajaratnam about a USD 5 billion investment by Warren Buffett-led Berkshire Hathaway in Goldman in 2008.
Rajaratnam goes on trial in New York on Tuesday on charges of insider trading.
