In an exchange filing, ZEE Entertainment CEO Punit Goenka, who resigned last week as managing director, has also withdrawn from consideration for reappointment to the position at the upcoming AGM.
While sharing Goenka’s resignation letter to exchanges on Saturday, Zee Entertainment Enterprises Ltd. (ZEEL) said he is “withdrawing his consent for his re-appointment as Managing Director of the company as proposed in the notice of the ensuing Annual General Meeting.”.
However, Goenka is keeping her position as CEO.
Goenka’s reappointment for a five-year term, beginning on January 1, 2025, and ending on December 31, 2029, was authorized by the ZEEL board earlier on October 18, 2024. Goenka’s current term as the company’s managing director and chief executive officer was set to expire at the end of 2024.
Goenka’s reappointment was contingent upon shareholder approval at the upcoming AGM, which is set for November 28. Punit Goenka, the son of media mogul Subhash Chandra, however, resigned from his position as managing director of Zed Entertainment on November 18.
Last week, ZEEL notified the public that Punit Goenka had been appointed CEO after his resignation as managing director was approved by the board.
“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,” ZEEL said.
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