Punit Goenka has approached the Board of Directors of Zee Entertainment Enterprises (ZEEL) with an approach to focus entirely on his operational responsibilities as the Chief Executive Officer of the Company and relinquish his position as the Managing Director.
With this step, he intends to dedicate his time entirely towards the future of the Company by enhancing its performance and profitability levels in line with the direction given by the Board/ Nomination and Remuneration Committee in its meeting dated 15th November 2024.
Earlier this month, ZEEL had appointed Punit Goenka as Managing Director and CEO for a five-year term, starting January 1, 2025, and ending December 31, 2029.
ZEE has elevated Mukund Galgali to the role of Deputy Chief Executive Officer of the Company. Galgali will assume this role in addition to his profile as the Chief Financial Officer of the Company and will continue to report to CEO Punit Goenka.
Punit Goenka said, “The Company remains on a firm footing and is taking all the necessary steps to build a robust foundation for its future. In order to ensure we maintain a sharp focus on achieving our targeted aspirations, the core businesses require dedicated time and energy which can only be achieved in an operational capacity. In the long-term interest of the Company and all its stakeholders, I have approached the Board with a request to attain operational focus as the Chief Executive Officer. I am grateful to the Board for recognizing my efforts and supporting me in this approach.”
R. Gopalan, Chairman, ZEEL, said, “The Board appreciates the approach taken by Mr. Punit Goenka to sharpen his focus towards enhancing the operational aspects of the Company as the Chief Executive Officer. His expertise and business acumen remain unmatched, and we remain confident in his abilities to deliver immense value to the Company and all its stakeholders in the position he assumes. On behalf of the Board, I wish him immense luck and success going forward.”
