Zee Entertainment approves Punit Goenka's reappointment as MD & CEO
It was further added that under Punit Goenka's leadership, the media conglomerate emerged as a powerful player. Under his leadership, Zee has also navigated various industry challenges and opportunities.
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Zee Entertainment Enterprises (ZEEL), in a recent board meeting, approved the re-appointment of Punit Goenka as Managing Director and Chief Executive Officer. This will be effective from January 1, 2025, for a period of five years.
It was further added that under his leadership, the media conglomerate emerged as a powerful player. Under his leadership, Zee has also navigated various industry challenges and opportunities.
On November 28, AGM (Annual General Meeting) will be conducted where shareholders will discuss the strategic direction of the company moving forward, stated a media report.
On August 14 2023, shortly after the NCLT (National Company Law Tribunal) approved the $10 billion Zee-Sony merger, SEBI issued an order barring Zee promoters Punit Goenka and Subhash Chandra from taking on significant management positions within Zee companies or the newly merged entity with Sony. However, on October 30, the Securities Appellate Tribunal (SAT) overturned SEBI's decision to prohibit Goenka from holding any managerial positions in listed companies for a year.
Even after SEBI’s order and other ongoing legal proceedings Zee promoters continued to express confidence in the merger deal that ultimately collapsed in January 2024.
Ever since, the company has been through a tough time seeing restructuring, layoffs and strengthening of strategic focus.
