Punit Goenka, the CEO of ZEE Entertainment Enterprises Ltd (ZEEL), has resigned from his position as Managing Director, effective immediately. In a filing to the stock exchanges, ZEEL confirmed that Goenka has also opted not to seek reappointment as Managing Director at the upcoming Annual General Meeting (AGM).
Goenka’s resignation as Managing Director follows a proposal by the ZEEL Board on October 18, 2024, to reappoint him for a five-year term, effective from January 1, 2025, to December 31, 2029. His current tenure was scheduled to end at the close of 2024. The reappointment was subject to approval by ZEEL’s shareholders at the AGM, set for November 28, 2024.
However, in a letter shared with the exchanges, ZEEL confirmed that Goenka has decided to withdraw his consent for reappointment as Managing Director. Despite stepping down from this role, Goenka will continue to serve as the CEO of the company.
According to ZEEL’s statement, Goenka’s decision to retain his CEO position reflects his intention to focus fully on driving the company’s future growth and profitability, in line with the strategic direction outlined by the Board and the Nomination and Remuneration Committee.
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Goenka, the son of media mogul Subhash Chandra, has been with ZEEL for several years, playing a key role in shaping the company’s expansion and success.
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